Lennar Co. (NYSE:LEN) Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. lifted its stake in Lennar Co. (NYSE:LEN) by 21.8% in the second quarter, HoldingsChannel reports. The firm owned 29,698 shares of the construction company’s stock after acquiring an additional 5,318 shares during the quarter. 1832 Asset Management L.P.’s holdings in Lennar were worth $4,451,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of LEN. Rise Advisors LLC grew its position in shares of Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after buying an additional 121 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Lennar in the 1st quarter valued at approximately $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Lennar in the 1st quarter valued at $32,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Lennar during the 1st quarter worth $35,000. Finally, Fortitude Family Office LLC increased its holdings in Lennar by 223.6% in the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after buying an additional 161 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Wedbush reiterated a “neutral” rating and issued a $144.00 price target on shares of Lennar in a research note on Friday, September 20th. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday. JMP Securities reiterated a “market outperform” rating and set a $170.00 price target on shares of Lennar in a research note on Thursday, June 20th. Finally, Royal Bank of Canada upped their price objective on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $179.72.

Lennar Stock Down 0.8 %

Shares of NYSE:LEN opened at $184.26 on Wednesday. The company has a market cap of $50.60 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.61 and a beta of 1.61. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $193.80. The firm’s 50-day simple moving average is $177.36 and its 200-day simple moving average is $164.30. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.91 EPS. As a group, equities research analysts predict that Lennar Co. will post 14.16 earnings per share for the current year.

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, Financial Services, Multifamily, and Lennar Other 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; and development, construction, and management of multifamily rental properties.