Lennar Co. (NYSE:LEN) Shares Sold by MQS Management LLC

MQS Management LLC lessened its stake in shares of Lennar Co. (NYSE:LEN) by 34.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,748 shares of the construction company’s stock after selling 2,540 shares during the quarter. MQS Management LLC’s holdings in Lennar were worth $712,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LEN. Lakewood Asset Management LLC boosted its position in shares of Lennar by 0.8% during the 2nd quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after purchasing an additional 70 shares during the period. NorthCrest Asset Manangement LLC grew its position in Lennar by 1.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock valued at $730,000 after acquiring an additional 73 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of Lennar by 5.7% during the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after purchasing an additional 74 shares in the last quarter. Quotient Wealth Partners LLC boosted its stake in shares of Lennar by 5.0% in the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock valued at $231,000 after purchasing an additional 74 shares during the period. Finally, BBR Partners LLC grew its holdings in shares of Lennar by 3.4% in the second quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock valued at $364,000 after purchasing an additional 79 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of research reports. Citigroup reiterated a “neutral” rating and set a $164.00 target price (down from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. Raymond James downgraded Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Royal Bank of Canada reissued an “underperform” rating and set a $145.00 target price on shares of Lennar in a research report on Thursday, June 20th. Wedbush restated a “neutral” rating and set a $144.00 price target on shares of Lennar in a research note on Wednesday, September 11th. Finally, Evercore ISI lifted their target price on Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $172.69.

Lennar Stock Performance

Shares of LEN stock opened at $188.44 on Thursday. The stock has a fifty day moving average price of $175.35 and a 200 day moving average price of $163.60. The stock has a market cap of $51.75 billion, a PE ratio of 12.81, a P/E/G ratio of 1.61 and a beta of 1.61. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $192.40. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.18. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Sell-side analysts forecast that Lennar Co. will post 14.16 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, 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.