Commonwealth Bank of Australia increased its stake in shares of Lennar Co. (NYSE:LEN) by 3,913.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,198 shares of the construction company’s stock after buying an additional 10,919 shares during the quarter. Commonwealth Bank of Australia’s holdings in Lennar were worth $584,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dupont Capital Management Corp grew its stake in Lennar by 117.2% during the 1st quarter. Dupont Capital Management Corp now owns 2,791 shares of the construction company’s stock worth $165,000 after buying an additional 1,506 shares during the last quarter. Ayalon Holdings Ltd. bought a new position in shares of Lennar in the second quarter worth $158,000. Doyle Wealth Management bought a new position in shares of Lennar in the first quarter worth $209,000. Seven Eight Capital LP bought a new position in shares of Lennar in the first quarter worth $214,000. Finally, Usca Ria LLC bought a new position in shares of Lennar in the second quarter worth $203,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Shares of Lennar stock opened at $52.35 on Friday. The company has a quick ratio of 0.76, a current ratio of 11.81 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $16.86 billion, a PE ratio of 13.74, a PEG ratio of 0.44 and a beta of 1.25. Lennar Co. has a fifty-two week low of $48.71 and a fifty-two week high of $72.17.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Tuesday, June 26th. The construction company reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $1.13. The business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.10 billion. Lennar had a return on equity of 12.82% and a net margin of 6.49%. The company’s revenue was up 67.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. equities analysts anticipate that Lennar Co. will post 6.1 earnings per share for the current fiscal year.

LEN has been the subject of several recent analyst reports. Maxim Group decreased their price target on Lennar from $83.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, May 23rd. Bank of America increased their price target on Lennar from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, June 27th. MKM Partners decreased their price target on Lennar to $71.00 and set a “buy” rating for the company in a research note on Wednesday, May 23rd. Zacks Investment Research cut Lennar from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. Finally, Citigroup initiated coverage on Lennar in a research note on Tuesday, June 19th. They issued a “buy” rating and a $65.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $71.69.

In other news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $52.12, for a total value of $1,042,400.00. Following the completion of the sale, the chief operating officer now owns 212,333 shares in the company, valued at $11,066,795.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.50% of the company’s stock.

About Lennar

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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