Lennar Co. (NYSE:LEN) Shares Purchased by Scotia Capital Inc.

Scotia Capital Inc. lifted its holdings in Lennar Co. (NYSE:LEN) by 2.7% in the second quarter, Holdings Channel reports. The firm owned 24,349 shares of the construction company’s stock after buying an additional 648 shares during the period. Scotia Capital Inc.’s holdings in Lennar were worth $1,179,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. CIBC Asset Management Inc boosted its position in shares of Lennar by 0.8% in the 2nd quarter. CIBC Asset Management Inc now owns 27,596 shares of the construction company’s stock worth $1,337,000 after purchasing an additional 222 shares in the last quarter. Securian Asset Management Inc boosted its position in shares of Lennar by 0.9% in the 2nd quarter. Securian Asset Management Inc now owns 29,330 shares of the construction company’s stock worth $1,421,000 after purchasing an additional 264 shares in the last quarter. Cerebellum GP LLC boosted its position in shares of Lennar by 4.4% in the 1st quarter. Cerebellum GP LLC now owns 6,572 shares of the construction company’s stock worth $323,000 after purchasing an additional 278 shares in the last quarter. Hartford Investment Management Co. boosted its position in shares of Lennar by 1.1% in the 2nd quarter. Hartford Investment Management Co. now owns 31,177 shares of the construction company’s stock worth $1,511,000 after purchasing an additional 328 shares in the last quarter. Finally, Keybank National Association OH boosted its position in shares of Lennar by 5.8% in the 1st quarter. Keybank National Association OH now owns 6,688 shares of the construction company’s stock worth $328,000 after purchasing an additional 366 shares in the last quarter. 83.93% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on the company. Zacks Investment Research cut Lennar from a “hold” rating to a “sell” rating and set a $53.00 price objective for the company. in a research report on Thursday, May 30th. Seaport Global Securities started coverage on Lennar in a research report on Friday, August 23rd. They issued a “buy” rating and a $71.00 price objective for the company. BTIG Research set a $65.00 price target on Lennar and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Wedbush set a $62.00 price target on Lennar and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Raymond James cut Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 price target for the company. in a research report on Tuesday, June 18th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. Lennar has a consensus rating of “Buy” and a consensus price target of $57.10.

In other Lennar news, President Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $49.04, for a total transaction of $980,800.00. Following the completion of the transaction, the president now owns 346,946 shares in the company, valued at approximately $17,014,231.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.43% of the company’s stock.

LEN traded down $0.96 on Friday, reaching $53.62. 4,963,403 shares of the stock were exchanged, compared to its average volume of 2,575,078. The company’s 50-day moving average price is $50.14 and its 200 day moving average price is $50.14. The firm has a market capitalization of $17.58 billion, a PE ratio of 8.44, a PEG ratio of 1.20 and a beta of 1.09. Lennar Co. has a fifty-two week low of $37.29 and a fifty-two week high of $55.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 13.93 and a quick ratio of 0.79.

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

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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