Lennar Co. (NYSE:LEN) Shares Sold by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT reduced its stake in shares of Lennar Co. (NYSE:LEN) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 398,662 shares of the construction company’s stock after selling 12,617 shares during the quarter. Sound Shore Management Inc. CT owned 0.15% of Lennar worth $59,747,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rise Advisors LLC boosted its stake in shares of Lennar by 484.0% during the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after acquiring an additional 121 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Lennar during the first quarter valued at approximately $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Lennar in the first quarter worth approximately $32,000. Redmont Wealth Advisors LLC acquired a new position in Lennar in the 1st quarter valued at $35,000. Finally, Fortitude Family Office LLC lifted its holdings in Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after purchasing an additional 161 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Performance

NYSE:LEN opened at $182.48 on Friday. Lennar Co. has a twelve month low of $102.90 and a twelve month high of $193.80. The company has a market capitalization of $50.11 billion, a P/E ratio of 12.41, a price-to-earnings-growth 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 firm has a 50-day moving average price of $176.53 and a two-hundred day moving average price of $163.96.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup reiterated a “neutral” rating and set a $164.00 price objective (down previously from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. The Goldman Sachs Group lowered Lennar from a “buy” rating to a “neutral” rating and decreased their price target for the company from $180.00 to $174.00 in a research note on Monday, July 22nd. Bank of America upped their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday. StockNews.com upgraded shares of Lennar from a “hold” rating to a “buy” rating in a report on Friday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $170.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lennar has an average rating of “Hold” and a consensus target price of $174.61.

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.