Asset Management Advisors LLC Has $4.57 Million Position in Lennar Corporation (LEN)

Asset Management Advisors LLC cut its stake in Lennar Corporation (NYSE:LEN) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,730 shares of the construction company’s stock after selling 460 shares during the quarter. Lennar Corporation comprises approximately 4.1% of Asset Management Advisors LLC’s holdings, making the stock its 11th largest holding. Asset Management Advisors LLC’s holdings in Lennar Corporation were worth $4,571,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Daiwa Securities Group Inc. lifted its position in Lennar Corporation by 9.7% in the second quarter. Daiwa Securities Group Inc. now owns 6,200 shares of the construction company’s stock worth $331,000 after buying an additional 550 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in Lennar Corporation by 24.9% in the first quarter. Xact Kapitalforvaltning AB now owns 17,449 shares of the construction company’s stock worth $893,000 after buying an additional 3,480 shares during the last quarter. National Pension Service lifted its position in Lennar Corporation by 9.8% in the second quarter. National Pension Service now owns 235,689 shares of the construction company’s stock worth $12,421,000 after buying an additional 21,075 shares during the last quarter. Smead Capital Management Inc. lifted its position in Lennar Corporation by 17.2% in the first quarter. Smead Capital Management Inc. now owns 1,302,102 shares of the construction company’s stock worth $66,655,000 after buying an additional 191,215 shares during the last quarter. Finally, LMR Partners LLP lifted its position in Lennar Corporation by 43.5% in the second quarter. LMR Partners LLP now owns 14,295 shares of the construction company’s stock worth $762,000 after buying an additional 4,333 shares during the last quarter. Institutional investors own 81.09% of the company’s stock.

Shares of Lennar Corporation (LEN) traded up 1.72% during trading on Monday, hitting $51.41. The stock had a trading volume of 454,784 shares. The stock has a market cap of $12.06 billion, a price-to-earnings ratio of 15.03 and a beta of 1.24. Lennar Corporation has a 12 month low of $39.68 and a 12 month high of $55.75. The company’s 50 day moving average price is $52.46 and its 200 day moving average price is $51.89.

Lennar Corporation (NYSE:LEN) last posted its earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.13. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the company earned $0.95 EPS. Lennar Corporation’s revenue was up 18.8% on a year-over-year basis. Equities research analysts expect that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on LEN. MKM Partners restated a “neutral” rating and issued a $58.00 price target (up from $55.00) on shares of Lennar Corporation in a research report on Friday, June 23rd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $62.00 price target on shares of Lennar Corporation in a research report on Thursday, July 27th. Credit Suisse Group began coverage on Lennar Corporation in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $55.00 price target for the company. Royal Bank Of Canada restated a “buy” rating and issued a $64.00 price target on shares of Lennar Corporation in a research report on Monday, August 21st. Finally, Zacks Investment Research downgraded Lennar Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Lennar Corporation presently has a consensus rating of “Buy” and an average price target of $56.41.

In related news, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the transaction, the chief operating officer now owns 139,433 shares of the company’s stock, valued at approximately $7,413,652.61. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 12.18% of the stock is currently owned by corporate insiders.

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About Lennar Corporation

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.

Institutional Ownership by Quarter for Lennar Corporation (NYSE:LEN)

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