Magnetar Financial LLC Acquires New Stake in Lennar Co. (LEN)
Magnetar Financial LLC acquired a new position in shares of Lennar Co. (NYSE:LEN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,147 shares of the construction company’s stock, valued at approximately $377,000.
Other hedge funds have also recently bought and sold shares of the company. D.A. Davidson & CO. boosted its position in shares of Lennar by 8.9% during the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after buying an additional 155 shares during the period. Commonwealth Bank of Australia boosted its position in shares of Lennar by 32.4% during the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after buying an additional 530 shares during the period. QS Investors LLC boosted its position in shares of Lennar by 1.0% during the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after buying an additional 25 shares during the period. MUFG Americas Holdings Corp boosted its position in shares of Lennar by 7.3% during the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after buying an additional 220 shares during the period. Finally, Chartist Inc. CA acquired a new position in shares of Lennar during the second quarter worth about $200,000. 81.34% of the stock is owned by institutional investors.
In other news, CFO Bruce E. Gross sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 371,043 shares of the company’s stock, valued at $22,262,580. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.18% of the company’s stock.
Several brokerages recently commented on LEN. UBS began coverage on Lennar in a research report on Wednesday, October 25th. They set a “buy” rating for the company. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Friday, September 15th. BidaskClub cut Lennar from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. MKM Partners raised Lennar from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Wednesday, October 4th. Finally, Bank of America increased their price target on Lennar from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Lennar currently has a consensus rating of “Hold” and an average target price of $58.14.
Lennar Co. (NYSE:LEN) traded up $0.03 on Friday, hitting $61.14. The stock had a trading volume of 2,718,700 shares, compared to its average volume of 2,462,446. Lennar Co. has a 52 week low of $42.23 and a 52 week high of $63.94. The firm has a market capitalization of $14,376.74, a PE ratio of 15.67, a price-to-earnings-growth ratio of 1.24 and a beta of 1.35. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76.
Lennar (NYSE:LEN) last released its quarterly earnings data on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.05. Lennar had a return on equity of 12.37% and a net margin of 6.65%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the firm posted $1.01 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. analysts forecast that Lennar Co. will post 4.04 earnings per share for the current year.
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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