Caisse DE Depot ET Placement DU Quebec decreased its position in Lennar Co. (NYSE:LEN) by 13.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,943 shares of the construction company’s stock after selling 8,900 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Lennar were worth $3,601,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Comerica Bank boosted its holdings in Lennar by 3.1% in the fourth quarter. Comerica Bank now owns 52,232 shares of the construction company’s stock valued at $3,701,000 after acquiring an additional 1,556 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Lennar by 14.2% in the fourth quarter. Toronto Dominion Bank now owns 88,013 shares of the construction company’s stock valued at $5,566,000 after acquiring an additional 10,940 shares during the last quarter. Private Asset Management Inc. bought a new position in Lennar in the fourth quarter valued at about $316,000. Rational Advisors LLC bought a new position in Lennar in the third quarter valued at about $1,438,000. Finally, Tower Bridge Advisors boosted its holdings in Lennar by 2.0% in the third quarter. Tower Bridge Advisors now owns 180,188 shares of the construction company’s stock valued at $9,514,000 after acquiring an additional 3,470 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.
LEN has been the topic of a number of recent analyst reports. Zacks Investment Research cut Lennar from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Wedbush raised their target price on Lennar from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, December 29th. Wells Fargo & Co upgraded Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 target price on the stock in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $78.00 target price on shares of Lennar in a report on Thursday, January 11th. Finally, Credit Suisse Group restated a “neutral” rating and set a $65.00 target price (up previously from $57.00) on shares of Lennar in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. Lennar currently has an average rating of “Buy” and a consensus target price of $68.60.
Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, January 10th. The construction company reported $1.29 EPS for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.21). The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.59 billion. Lennar had a return on equity of 12.00% and a net margin of 6.41%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.34 EPS. research analysts forecast that Lennar Co. will post 5.29 EPS for the current year.
In other news, CFO Bruce E. Gross sold 9,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $72.00, for a total transaction of $648,000.00. Following the sale, the chief financial officer now owns 346,043 shares of the company’s stock, valued at $24,915,096. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Mark Sustana sold 125,000 shares of the firm’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $69.55, for a total value of $8,693,750.00. Following the sale, the general counsel now directly owns 65,720 shares in the company, valued at approximately $4,570,826. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,000 shares of company stock worth $12,092,050. 8.50% of the stock is currently owned by insiders.
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.
Receive News & Ratings for Lennar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar and related companies with MarketBeat.com's FREE daily email newsletter.