Cambridge Investment Research Advisors Inc. Acquires 13,400 Shares of Lennar Co. (NYSE:LEN)

Posted by Defense World Staff on Sep 28th, 2023

Cambridge Investment Research Advisors Inc. boosted its holdings in Lennar Co. (NYSE:LEN – Free Report) by 95.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,446 shares of the construction company’s stock after purchasing an additional 13,400 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Lennar were worth $3,439,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LEN. Close Asset Management Ltd acquired a new position in Lennar during the 1st quarter worth approximately $37,000. MV Capital Management Inc. increased its stake in Lennar by 47.0% during the 1st quarter. MV Capital Management Inc. now owns 397 shares of the construction company’s stock valued at $42,000 after purchasing an additional 127 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Lennar during the second quarter valued at about $61,000. Money Concepts Capital Corp boosted its position in shares of Lennar by 494.4% during the fourth quarter. Money Concepts Capital Corp now owns 737 shares of the construction company’s stock valued at $67,000 after buying an additional 613 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Lennar by 22.6% in the 1st quarter. Brown Brothers Harriman & Co. now owns 717 shares of the construction company’s stock worth $75,000 after purchasing an additional 132 shares in the last quarter. 79.87% of the stock is currently owned by institutional investors.

Lennar Price Performance

NYSE LEN opened at $111.70 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.25 and a current ratio of 7.09. Lennar Co. has a fifty-two week low of $69.90 and a fifty-two week high of $133.24. The company has a market capitalization of $32.10 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 1.45 and a beta of 1.48. The business’s fifty day moving average is $120.50 and its 200 day moving average is $115.48.

Lennar (NYSE:LEN – Get Free Report) last posted its quarterly earnings results on Friday, September 15th. The construction company reported $3.91 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.39. The business had revenue of $8.73 billion during the quarter, compared to the consensus estimate of $8.49 billion. Lennar had a return on equity of 16.41% and a net margin of 11.66%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $5.18 EPS. Sell-side analysts predict that Lennar Co. will post 13.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Lennar in a report on Wednesday, May 31st. They set a “sell” rating and a $105.00 target price on the stock. UBS Group increased their price target on shares of Lennar from $150.00 to $159.00 and gave the stock a “buy” rating in a research note on Monday, September 18th. Evercore ISI boosted their target price on shares of Lennar from $161.00 to $164.00 in a report on Monday, September 18th. JMP Securities upped their price target on Lennar from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 19th. Finally, StockNews.com initiated coverage on shares of Lennar in a research note on Thursday, August 17th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $134.25.

Check Out Our Latest Report on Lennar

Insider Buying and Selling at Lennar

In other Lennar news, Director Amy Banse bought 859 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average cost of $117.65 per share, for a total transaction of $101,061.35. Following the transaction, the director now owns 8,972 shares of the company’s stock, valued at $1,055,555.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $126.48, for a total transaction of $1,264,800.00. Following the completion of the sale, the executive vice president now directly owns 141,386 shares of the company’s stock, valued at $17,882,501.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Banse bought 859 shares of Lennar stock in a transaction dated Thursday, August 17th. The shares were bought at an average cost of $117.65 per share, for a total transaction of $101,061.35. Following the completion of the transaction, the director now owns 8,972 shares of the company’s stock, valued at approximately $1,055,555.80. The disclosure for this purchase can be found here. Insiders bought 2,469 shares of company stock worth $301,842 in the last quarter. 9.53% of the stock is owned by corporate insiders.

Lennar Company Profile

(Free Report)

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.