Putnam Investments LLC Sells 40,315 Shares of Lennar Co. (NYSE:LEN)

Putnam Investments LLC lowered its stake in shares of Lennar Co. (NYSE:LEN) by 9.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 377,354 shares of the construction company’s stock after selling 40,315 shares during the period. Putnam Investments LLC’s holdings in Lennar were worth $18,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Lennar by 71.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,735,815 shares of the construction company’s stock worth $229,498,000 after purchasing an additional 1,978,045 shares during the period. Long Pond Capital LP raised its position in Lennar by 21.1% in the 1st quarter. Long Pond Capital LP now owns 2,327,633 shares of the construction company’s stock valued at $114,264,000 after buying an additional 405,962 shares during the last quarter. Invesco Ltd. raised its position in Lennar by 32.9% in the 2nd quarter. Invesco Ltd. now owns 1,895,497 shares of the construction company’s stock valued at $91,855,000 after buying an additional 469,056 shares during the last quarter. Smead Capital Management Inc. raised its position in Lennar by 0.9% in the 1st quarter. Smead Capital Management Inc. now owns 1,544,021 shares of the construction company’s stock valued at $75,796,000 after buying an additional 14,140 shares during the last quarter. Finally, Sterling Capital Management LLC raised its position in Lennar by 0.4% in the 2nd quarter. Sterling Capital Management LLC now owns 1,144,500 shares of the construction company’s stock valued at $55,462,000 after buying an additional 4,691 shares during the last quarter. Hedge funds and other institutional investors own 83.78% of the company’s stock.

Shares of NYSE:LEN traded up $0.60 during trading on Friday, hitting $54.39. 115,320 shares of the company were exchanged, compared to its average volume of 2,632,459. The company has a current ratio of 13.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. Lennar Co. has a fifty-two week low of $37.29 and a fifty-two week high of $55.00. The firm has a fifty day moving average price of $50.85 and a two-hundred day moving average price of $50.29. The stock has a market cap of $17.11 billion, a price-to-earnings ratio of 8.56, a P/E/G ratio of 1.16 and a beta of 1.09.

Lennar (NYSE:LEN) last issued its earnings results on Tuesday, June 25th. The construction company reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.17. Lennar had a return on equity of 12.03% and a net margin of 8.86%. The company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the company posted $1.58 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Lennar Co. will post 5.32 EPS for the current year.

In other news, President Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction that occurred on 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 directly owns 346,946 shares in the company, valued at approximately $17,014,231.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.43% of the company’s stock.

LEN has been the topic of a number of recent research reports. BTIG Research set a $65.00 target price on Lennar and gave the company a “buy” rating in a research report on Wednesday, June 26th. ValuEngine lowered Lennar from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. dropped their target price on Lennar from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 26th. Zacks Investment Research lowered Lennar from a “hold” rating to a “sell” rating and set a $53.00 target price on the stock. in a research report on Thursday, May 30th. Finally, Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a research report on Tuesday, June 18th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $57.10.

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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