Eaton Vance Management maintained its stake in shares of Lennar Corporation (NYSE:LEN) during the 2nd quarter, according to its most recent filing with the SEC. The fund owned 85,378 shares of the construction company’s stock at the close of the 2nd quarter. Eaton Vance Management’s holdings in Lennar Corporation were worth $4,552,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Commonwealth Bank of Australia lifted its position in shares of Lennar Corporation by 32.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after buying an additional 530 shares during the last quarter. Washington Trust Bank raised its position in Lennar Corporation by 47.6% in the 2nd quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock valued at $131,000 after purchasing an additional 794 shares during the last quarter. MUFG Americas Holdings Corp raised its position in Lennar Corporation by 7.3% in the 2nd quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock valued at $173,000 after purchasing an additional 220 shares during the last quarter. Pacer Advisors Inc. raised its position in Lennar Corporation by 27.0% in the 1st quarter. Pacer Advisors Inc. now owns 4,038 shares of the construction company’s stock valued at $207,000 after purchasing an additional 859 shares during the last quarter. Finally, Regentatlantic Capital LLC purchased a new stake in Lennar Corporation in the 2nd quarter valued at $207,000. Institutional investors and hedge funds own 81.09% of the company’s stock.
In other Lennar Corporation news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $53.17, for a total value of $1,063,400.00. Following the sale, the chief operating officer now directly owns 139,433 shares in the company, valued at $7,413,652.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.18% of the company’s stock.
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Several analysts recently commented on LEN shares. Zacks Investment Research upgraded shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Friday, June 16th. Royal Bank Of Canada upped their price target on shares of Lennar Corporation from $61.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. BidaskClub upgraded shares of Lennar Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Credit Suisse Group started coverage on shares of Lennar Corporation in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $55.00 price target for the company. Finally, Wedbush reiterated a “neutral” rating and issued a $46.00 price target on shares of Lennar Corporation in a research report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $56.82.
Lennar Corporation (LEN) opened at 51.31 on Friday. The stock has a market cap of $12.03 billion, a P/E ratio of 15.00 and a beta of 1.24. Lennar Corporation has a 12 month low of $39.68 and a 12 month high of $55.75. The firm’s 50-day moving average is $52.26 and its 200-day moving average is $51.96.
Lennar Corporation (NYSE:LEN) last posted its earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the business posted $0.95 earnings per share. On average, equities analysts forecast that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.
About Lennar Corporation
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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