Tredje AP fonden Decreases Position in Lennar Co. (NYSE:LEN)

Tredje AP fonden lowered its position in Lennar Co. (NYSE:LEN) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,742 shares of the construction company’s stock after selling 435 shares during the quarter. Tredje AP fonden’s holdings in Lennar were worth $4,158,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LEN. Gilbert & Cook Inc. increased its holdings in Lennar by 5.5% during the 4th quarter. Gilbert & Cook Inc. now owns 4,053 shares of the construction company’s stock valued at $604,000 after acquiring an additional 211 shares in the last quarter. Gladstone Institutional Advisory LLC purchased a new position in shares of Lennar during the 4th quarter worth approximately $218,000. Clearbridge Investments LLC lifted its stake in Lennar by 9.1% in the 4th quarter. Clearbridge Investments LLC now owns 31,158 shares of the construction company’s stock valued at $4,644,000 after buying an additional 2,595 shares in the last quarter. Trexquant Investment LP grew its holdings in Lennar by 141.3% during the 4th quarter. Trexquant Investment LP now owns 35,383 shares of the construction company’s stock valued at $5,273,000 after buying an additional 20,717 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd increased its position in Lennar by 27.8% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 23,010 shares of the construction company’s stock worth $3,429,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Price Performance

Shares of Lennar stock opened at $188.44 on Thursday. The stock has a market capitalization of $51.75 billion, a P/E ratio of 12.81, a PEG ratio of 1.61 and a beta of 1.61. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average price is $175.35 and its 200 day moving average price is $163.60. Lennar Co. has a twelve month low of $102.90 and a twelve month high of $192.40.

Lennar (NYSE:LEN) last released its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.18. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.57 billion. As a group, research analysts anticipate that Lennar Co. will post 14.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Evercore ISI upped their price objective on Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. The Goldman Sachs Group cut shares of Lennar from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $180.00 to $174.00 in a research note on Monday, July 22nd. Wells Fargo & Company lifted their price target on shares of Lennar from $195.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Citigroup reissued a “neutral” rating and set a $164.00 price objective (down previously from $174.00) on shares of Lennar in a research note on Tuesday, July 2nd. Finally, Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Lennar presently has a consensus rating of “Hold” and an average price target of $172.69.

About Lennar

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.