American International Group Inc. Has $4.85 Million Stake in Lennar Co. (LEN)
American International Group Inc. lifted its position in Lennar Co. (NYSE:LEN) by 12.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 103,873 shares of the construction company’s stock after purchasing an additional 11,620 shares during the quarter. American International Group Inc.’s holdings in Lennar were worth $4,850,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of LEN. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in Lennar by 475.0% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,990 shares of the construction company’s stock worth $157,000 after acquiring an additional 2,470 shares during the last quarter. Ayalon Holdings Ltd. bought a new stake in Lennar during the 2nd quarter worth about $158,000. Usca Ria LLC bought a new stake in Lennar during the 2nd quarter worth about $203,000. Levin Capital Strategies L.P. bought a new stake in Lennar during the 2nd quarter worth about $210,000. Finally, Dupont Capital Management Corp grew its holdings in Lennar by 46.5% during the 2nd quarter. Dupont Capital Management Corp now owns 4,089 shares of the construction company’s stock worth $215,000 after acquiring an additional 1,298 shares during the last quarter. 84.87% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Lennar from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. Barclays set a $63.00 target price on shares of Lennar and gave the company a “buy” rating in a research report on Friday, September 14th. Mizuho set a $65.00 target price on shares of Lennar and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Wedbush restated a “neutral” rating on shares of Lennar in a research report on Monday, October 1st. Finally, ValuEngine downgraded shares of Lennar from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have given a buy rating to the stock. Lennar presently has a consensus rating of “Buy” and a consensus price target of $62.63.
Lennar (NYSE:LEN) last released its earnings results on Wednesday, October 3rd. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.11. The company had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.62 billion. Lennar had a net margin of 6.76% and a return on equity of 12.87%. The company’s revenue was up 73.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.06 EPS. On average, analysts forecast that Lennar Co. will post 4.92 earnings per share for the current year.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $46.98, for a total value of $939,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.50% of the company’s stock.
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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