Pacer Advisors Inc. Reduces Stake in Lennar Co. (NYSE:LEN)

Pacer Advisors Inc. lowered its stake in Lennar Co. (NYSE:LEN) by 69.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,666 shares of the construction company’s stock after selling 61,767 shares during the period. Pacer Advisors Inc.’s holdings in Lennar were worth $1,341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC raised its stake in Lennar by 327.4% in the first quarter. Janney Montgomery Scott LLC now owns 23,518 shares of the construction company’s stock worth $1,155,000 after buying an additional 18,015 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Lennar by 134.7% during the 1st quarter. Janus Henderson Group PLC now owns 133,687 shares of the construction company’s stock worth $6,563,000 after purchasing an additional 76,736 shares during the period. Comerica Bank boosted its position in shares of Lennar by 4.7% during the 1st quarter. Comerica Bank now owns 58,143 shares of the construction company’s stock worth $2,956,000 after purchasing an additional 2,616 shares during the period. Victory Capital Management Inc. boosted its position in shares of Lennar by 0.9% during the 1st quarter. Victory Capital Management Inc. now owns 60,323 shares of the construction company’s stock worth $2,961,000 after purchasing an additional 528 shares during the period. Finally, First Allied Advisory Services Inc. purchased a new position in shares of Lennar during the 1st quarter worth approximately $653,000. Institutional investors own 83.93% of the company’s stock.

In related news, President Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $49.04, for a total value of $980,800.00. Following the completion of the transaction, the president now directly owns 346,946 shares of the company’s stock, valued at $17,014,231.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.43% of the stock is currently owned by company insiders.

Shares of NYSE LEN traded down $0.57 during midday trading on Friday, reaching $54.01. 865,300 shares of the company traded hands, compared to its average volume of 2,706,851. The firm has a market cap of $17.58 billion, a PE ratio of 8.51, a PEG ratio of 1.17 and a beta of 1.09. The stock’s 50-day simple moving average is $50.00 and its 200-day simple moving average is $50.12. Lennar Co. has a 12 month low of $37.29 and a 12 month high of $54.98. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 13.93.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, June 25th. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.17. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Lennar had a return on equity of 12.03% and a net margin of 8.86%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the business earned $1.58 earnings per share. On average, equities research analysts expect that Lennar Co. will post 5.32 EPS for the current year.

Several research analysts have issued reports on LEN shares. Zacks Investment Research downgraded shares of Lennar from a “hold” rating to a “sell” rating and set a $53.00 price objective on the stock. in a research report on Thursday, May 30th. SunTrust Banks started coverage on shares of Lennar in a research report on Monday, August 12th. They set a “hold” rating and a $47.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of Lennar from $57.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, June 26th. ValuEngine lowered shares of Lennar from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Wedbush set a $62.00 price objective on shares of Lennar and gave the company a “buy” rating in a research report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $57.10.

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, 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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