Mitsubishi UFJ Trust & Banking Corp Trims Stake in Lennar Corporation (LEN)
Mitsubishi UFJ Trust & Banking Corp cut its position in Lennar Corporation (NYSE:LEN) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 479,763 shares of the construction company’s stock after selling 3,397 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.20% of Lennar worth $25,331,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. D.A. Davidson & CO. boosted its stake in Lennar by 8.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock valued at $101,000 after purchasing an additional 155 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in Lennar by 32.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock valued at $114,000 after purchasing an additional 530 shares during the last quarter. QS Investors LLC boosted its stake in shares of Lennar by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after buying an additional 25 shares during the last quarter. MUFG Americas Holdings Corp boosted its stake in shares of Lennar by 7.3% in the 2nd quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after buying an additional 220 shares during the last quarter. Finally, Chartist Inc. CA purchased a new position in shares of Lennar in the 2nd quarter worth approximately $200,000. Institutional investors own 81.34% of the company’s stock.
In other news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $56.48, for a total transaction of $282,400.00. Following the sale, the chief financial officer now owns 376,043 shares in the company, valued at $21,238,908.64. The transaction was disclosed in a filing with the SEC, which is available at this link. 12.18% of the stock is currently owned by company insiders.
Shares of Lennar Corporation (NYSE:LEN) traded down $1.12 during midday trading on Thursday, hitting $60.91. 3,864,600 shares of the company’s stock were exchanged, compared to its average volume of 2,460,521. Lennar Corporation has a fifty-two week low of $42.23 and a fifty-two week high of $63.94. The company has a market capitalization of $14,593.18, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 1.26 and a beta of 1.35. The company has a quick ratio of 0.59, a current ratio of 7.76 and a debt-to-equity ratio of 0.72.
Lennar (NYSE:LEN) last announced its earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.05. Lennar had a net margin of 6.65% and a return on equity of 12.37%. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. research analysts forecast that Lennar Corporation will post 4.04 earnings per share for the current year.
A number of equities analysts have recently weighed in on the company. Mizuho restated a “hold” rating and issued a $53.00 target price on shares of Lennar in a research note on Friday, October 27th. UBS assumed coverage on Lennar in a research note on Wednesday, October 25th. They issued a “buy” rating on the stock. MKM Partners upgraded Lennar from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, October 4th. Citigroup reaffirmed a “neutral” rating and issued a $59.00 price target (up previously from $57.00) on shares of Lennar in a report on Wednesday, October 4th. Finally, Bank of America lifted their price target on shares of Lennar from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $57.93.
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Lennar Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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