Clearbridge LLC Buys New Holdings in Lennar Co. (LEN)

Clearbridge LLC bought a new stake in Lennar Co. (NYSE:LEN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 85,980 shares of the construction company’s stock, valued at approximately $3,366,000.

Several other large investors also recently added to or reduced their stakes in the company. Shoals Capital Management LP purchased a new stake in Lennar during the fourth quarter worth $7,830,000. Menta Capital LLC purchased a new stake in Lennar during the fourth quarter worth $282,000. MUFG Securities EMEA plc boosted its position in Lennar by 7,486.3% during the fourth quarter. MUFG Securities EMEA plc now owns 600,000 shares of the construction company’s stock worth $23,490,000 after purchasing an additional 592,091 shares in the last quarter. Delek Group Ltd. boosted its position in Lennar by 20.0% during the fourth quarter. Delek Group Ltd. now owns 450,653 shares of the construction company’s stock worth $18,117,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Stamos Capital Partners L.P. purchased a new stake in Lennar during the fourth quarter worth $470,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have commented on LEN. Zacks Investment Research downgraded Lennar from a “hold” rating to a “sell” rating in a research report on Wednesday, December 19th. Barclays set a $52.00 target price on Lennar and gave the stock a “buy” rating in a research report on Thursday, January 10th. Citigroup decreased their target price on Lennar from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, January 4th. ValuEngine raised Lennar from a “strong sell” rating to a “sell” rating in a report on Monday, December 17th. Finally, Wedbush cut Lennar from an “outperform” rating to a “neutral” rating and set a $50.00 price target for the company. in a report on Thursday, February 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $57.29.

In related news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $40.03, for a total value of $800,600.00. Following the completion of the transaction, the chief operating officer now directly owns 171,014 shares in the company, valued at $6,845,690.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.43% of the company’s stock.

NYSE LEN opened at $48.02 on Friday. Lennar Co. has a fifty-two week low of $37.29 and a fifty-two week high of $64.90. The firm has a market capitalization of $15.58 billion, a PE ratio of 7.56, a P/E/G ratio of 0.58 and a beta of 1.32. The company has a quick ratio of 1.12, a current ratio of 11.48 and a debt-to-equity ratio of 0.58.

Lennar (NYSE:LEN) last released its earnings results on Wednesday, January 9th. The construction company reported $1.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.05. The firm had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.46 billion. Lennar had a return on equity of 13.76% and a net margin of 8.24%. The business’s quarterly revenue was up 70.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 earnings per share. As a group, research analysts predict that Lennar Co. will post 6.02 earnings per share for the current fiscal year.

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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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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