Nomura Asset Management Co. Ltd. boosted its position in shares of Lennar Co. (NYSE:LEN) by 7.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,057 shares of the construction company’s stock after purchasing an additional 3,257 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Lennar were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in LEN. Ceredex Value Advisors LLC acquired a new position in shares of Lennar during the 4th quarter worth about $28,000. NuWave Investment Management LLC acquired a new position in shares of Lennar during the 4th quarter worth about $51,000. SeaBridge Investment Advisors LLC grew its position in shares of Lennar by 277.8% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 1,360 shares of the construction company’s stock worth $53,000 after buying an additional 1,000 shares during the period. Dubuque Bank & Trust Co. acquired a new position in shares of Lennar during the 4th quarter worth about $55,000. Finally, Ropes Wealth Advisors LLC grew its position in shares of Lennar by 179.9% during the 4th quarter. Ropes Wealth Advisors LLC now owns 1,797 shares of the construction company’s stock worth $70,000 after buying an additional 1,155 shares during the period. 84.53% of the stock is owned by hedge funds and other institutional investors.
LEN has been the subject of several analyst reports. Bank of America decreased their target price on Lennar from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, January 10th. Royal Bank of Canada set a $53.00 target price on Lennar and gave the stock a “buy” rating in a research report on Thursday, January 10th. Credit Suisse Group reiterated a “hold” rating and issued a $49.00 price objective on shares of Lennar in a research report on Friday, February 15th. Deutsche Bank boosted their price objective on Lennar to $56.00 and gave the company a “buy” rating in a research report on Thursday, January 10th. Finally, Buckingham Research assumed coverage on Lennar in a research report on Friday, January 11th. They issued a “buy” rating for the company. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $57.29.
Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, January 9th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.05. The business had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.46 billion. Lennar had a return on equity of 13.76% and a net margin of 8.24%. Lennar’s quarterly revenue was up 70.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 EPS. Equities analysts forecast that Lennar Co. will post 6.02 EPS for the current year.
In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $40.03, for a total value of $800,600.00. Following the sale, the chief operating officer now owns 171,014 shares in the company, valued at approximately $6,845,690.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.43% of the company’s stock.
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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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