Lennar Corp. (LEN) Shares Sold by Sippican Capital Advisors
Sippican Capital Advisors decreased its position in shares of Lennar Corp. (NYSE:LEN) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,390 shares of the company’s stock after selling 375 shares during the period. Lennar Corp. accounts for approximately 2.2% of Sippican Capital Advisors’ portfolio, making the stock its 13th largest position. Sippican Capital Advisors’ holdings in Lennar Corp. were worth $1,816,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. Pitcairn Co. raised its stake in shares of Lennar Corp. by 1.7% in the second quarter. Pitcairn Co. now owns 7,530 shares of the company’s stock worth $347,000 after buying an additional 125 shares during the period. Bank of Montreal Can bought a new stake in shares of Lennar Corp. during the second quarter worth about $5,570,000. Shell Asset Management Co. raised its stake in shares of Lennar Corp. by 33.0% in the second quarter. Shell Asset Management Co. now owns 13,325 shares of the company’s stock worth $614,000 after buying an additional 3,309 shares during the period. Morgens Waterfall Vintiadis & Co. Inc. raised its stake in shares of Lennar Corp. by 100.0% in the second quarter. Morgens Waterfall Vintiadis & Co. Inc. now owns 114,000 shares of the company’s stock worth $5,255,000 after buying an additional 57,000 shares during the period. Finally, LS Investment Advisors LLC raised its stake in shares of Lennar Corp. by 2.9% in the second quarter. LS Investment Advisors LLC now owns 7,648 shares of the company’s stock worth $353,000 after buying an additional 217 shares during the period. Institutional investors own 86.39% of the company’s stock.
Lennar Corp. (NYSE:LEN) traded up 0.35% during mid-day trading on Thursday, reaching $43.60. The company’s stock had a trading volume of 4,206,733 shares. Lennar Corp. has a 12 month low of $37.14 and a 12 month high of $52.50. The company has a market cap of $9.56 billion, a price-to-earnings ratio of 11.64 and a beta of 1.37. The stock’s 50 day moving average is $46.22 and its 200 day moving average is $46.44.
Lennar Corp. (NYSE:LEN) last announced its earnings results on Tuesday, September 20th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.89 by $0.12. The company had revenue of $2.83 billion for the quarter. Lennar Corp. had a return on equity of 14.34% and a net margin of 8.37%. Lennar Corp.’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 EPS. Equities research analysts predict that Lennar Corp. will post $3.82 EPS for the current year.
LEN has been the subject of a number of research analyst reports. MKM Partners set a $52.00 price target on shares of Lennar Corp. and gave the stock a “hold” rating in a research note on Wednesday, September 14th. Bank of America Corp. set a $52.00 price target on shares of Lennar Corp. and gave the stock a “buy” rating in a research note on Tuesday. Credit Suisse Group AG reiterated a “hold” rating on shares of Lennar Corp. in a research note on Tuesday, June 28th. Zacks Investment Research lowered shares of Lennar Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. Finally, Wedbush started coverage on shares of Lennar Corp. in a research note on Monday. They set a “neutral” rating and a $46.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $54.08.
Lennar Corp. Company Profile
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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