Victory Capital Management Inc. Increases Holdings in Lennar Corporation (LEN)
Victory Capital Management Inc. raised its holdings in shares of Lennar Corporation (NYSE:LEN) by 17.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,473 shares of the construction company’s stock after acquiring an additional 5,083 shares during the period. Victory Capital Management Inc.’s holdings in Lennar Corporation were worth $1,785,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Alps Advisors Inc. lifted its stake in Lennar Corporation by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 9,280 shares of the construction company’s stock valued at $495,000 after acquiring an additional 24 shares during the period. Fisher Asset Management LLC lifted its stake in Lennar Corporation by 0.7% during the 2nd quarter. Fisher Asset Management LLC now owns 4,052 shares of the construction company’s stock valued at $216,000 after acquiring an additional 27 shares during the period. State of Alaska Department of Revenue lifted its stake in Lennar Corporation by 0.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,157 shares of the construction company’s stock valued at $328,000 after acquiring an additional 40 shares during the period. Gateway Investment Advisers LLC lifted its stake in Lennar Corporation by 0.4% during the 2nd quarter. Gateway Investment Advisers LLC now owns 12,604 shares of the construction company’s stock valued at $672,000 after acquiring an additional 48 shares during the period. Finally, MAI Capital Management lifted its stake in Lennar Corporation by 1.3% during the 2nd quarter. MAI Capital Management now owns 4,707 shares of the construction company’s stock valued at $251,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 81.09% of the company’s stock.
LEN has been the subject of several research reports. Zacks Investment Research upgraded shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Tuesday, May 23rd. Deutsche Bank AG restated a “hold” rating and set a $53.00 price objective (up from $52.00) on shares of Lennar Corporation in a research note on Thursday, June 22nd. Credit Suisse Group initiated coverage on shares of Lennar Corporation in a research note on Thursday, June 22nd. They set a “neutral” rating and a $55.00 price objective for the company. Royal Bank Of Canada lifted their price objective on shares of Lennar Corporation from $60.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, June 21st. Finally, Argus restated a “buy” rating and set a $60.00 price objective (up from $57.00) on shares of Lennar Corporation in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $56.41.
In other Lennar Corporation news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $53.17, for a total value of $1,063,400.00. Following the completion of the sale, the chief operating officer now owns 139,433 shares of the company’s stock, valued at $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 company insiders.
Shares of Lennar Corporation (NYSE LEN) opened at 50.54 on Monday. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 14.77 and a beta of 1.24. The company has a 50-day moving average of $52.49 and a 200 day moving average of $51.82. Lennar Corporation has a one year low of $39.68 and a one year high of $55.75.
Lennar Corporation (NYSE:LEN) last released its earnings results on Tuesday, June 20th. The construction company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the company earned $0.95 earnings per share. Lennar Corporation’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, equities analysts forecast that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.
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Lennar Corporation Company Profile
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.
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