Fiera Capital Corp Invests $224,000 in Lennar Corporation (LEN)
Fiera Capital Corp acquired a new stake in Lennar Corporation (NYSE:LEN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,200 shares of the construction company’s stock, valued at approximately $224,000.
Several other institutional investors and hedge funds also recently modified their holdings of LEN. Commonwealth Bank of Australia raised its position in shares of Lennar Corporation by 32.4% in the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock valued at $114,000 after purchasing an additional 530 shares during the period. Washington Trust Bank raised its position in shares of Lennar Corporation by 47.6% in the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock valued at $131,000 after purchasing an additional 794 shares during the period. MUFG Americas Holdings Corp raised its position in shares of Lennar Corporation by 7.3% in the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock valued at $173,000 after purchasing an additional 220 shares during the period. Pacer Advisors Inc. raised its position in shares of Lennar Corporation by 27.0% in the first quarter. Pacer Advisors Inc. now owns 4,038 shares of the construction company’s stock valued at $207,000 after purchasing an additional 859 shares during the period. Finally, Regentatlantic Capital LLC bought a new position in shares of Lennar Corporation in the second quarter valued at about $207,000. 81.08% of the stock is currently owned by institutional investors.
Lennar Corporation (NYSE LEN) opened at 50.49 on Friday. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 14.76 and a beta of 1.24. Lennar Corporation has a 12-month low of $39.68 and a 12-month high of $55.75. The firm has a 50-day moving average of $52.22 and a 200 day moving average of $52.03.
Lennar Corporation (NYSE:LEN) last announced its quarterly earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.13. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The company’s revenue was up 18.8% on a year-over-year basis. Analysts expect that Lennar Corporation will post $3.82 EPS for the current fiscal year.
Several equities analysts have recently weighed in on LEN shares. Zacks Investment Research raised shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Friday, June 16th. Bank of America Corporation reaffirmed a “buy” rating and set a $63.00 price target (up from $60.00) on shares of Lennar Corporation in a research report on Wednesday, June 21st. Mizuho reaffirmed a “buy” rating on shares of Lennar Corporation in a research report on Tuesday, July 11th. Argus reaffirmed a “buy” rating and set a $60.00 price target (up from $57.00) on shares of Lennar Corporation in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $62.00 price target on shares of Lennar Corporation in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Lennar Corporation presently has a consensus rating of “Buy” and a consensus price target of $56.25.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the sale, the chief operating officer now directly owns 139,433 shares in the company, valued at $7,413,652.61. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 12.18% of the company’s stock.
About Lennar Corporation
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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