Public Sector Pension Investment Board Raises Holdings in Lennar Co. (NYSE:LEN)

Public Sector Pension Investment Board raised its stake in shares of Lennar Co. (NYSE:LEN) by 1,841.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,415 shares of the construction company’s stock after acquiring an additional 94,294 shares during the quarter. Public Sector Pension Investment Board’s holdings in Lennar were worth $14,899,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rise Advisors LLC grew its holdings in Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after purchasing an additional 121 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in Lennar during the 1st quarter valued at about $30,000. New Covenant Trust Company N.A. purchased a new stake in Lennar in the first quarter valued at about $32,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Lennar during the first quarter worth about $35,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Lennar by 223.6% during the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after acquiring an additional 161 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday. Bank of America upped their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $180.00 to $174.00 in a research report on Monday, July 22nd. JMP Securities reissued a “market outperform” rating and issued a $170.00 price objective on shares of Lennar in a report on Thursday, June 20th. Finally, StockNews.com raised Lennar from a “hold” rating to a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Lennar presently has an average rating of “Hold” and an average price target of $179.72.

Lennar Price Performance

Shares of LEN opened at $185.77 on Tuesday. The firm has a 50-day simple moving average of $177.07 and a two-hundred day simple moving average of $164.16. The stock has a market cap of $51.01 billion, a PE ratio of 12.63, a P/E/G ratio of 1.61 and a beta of 1.61. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. The company had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. Lennar’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business posted $3.91 EPS. As a group, analysts forecast that Lennar Co. will post 14.16 EPS for the current year.

Lennar Profile

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.