Commonwealth Bank of Australia Increases Stake in Lennar Co. (LEN)
Commonwealth Bank of Australia grew its position in Lennar Co. (NYSE:LEN) by 42.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,222 shares of the construction company’s stock after purchasing an additional 5,724 shares during the period. Commonwealth Bank of Australia’s holdings in Lennar were worth $748,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Korea Investment CORP grew its holdings in Lennar by 1,181.6% in the fourth quarter. Korea Investment CORP now owns 42,843 shares of the construction company’s stock valued at $1,677,000 after purchasing an additional 39,500 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Lennar by 7.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 48,057 shares of the construction company’s stock valued at $1,881,000 after purchasing an additional 3,257 shares during the period. Standard Life Aberdeen plc grew its holdings in Lennar by 0.6% in the fourth quarter. Standard Life Aberdeen plc now owns 366,991 shares of the construction company’s stock valued at $14,497,000 after purchasing an additional 2,107 shares during the period. Mn Services Vermogensbeheer B.V. grew its holdings in Lennar by 10.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 49,497 shares of the construction company’s stock valued at $1,695,000 after purchasing an additional 4,800 shares during the period. Finally, State of Tennessee Treasury Department grew its holdings in Lennar by 14.5% in the fourth quarter. State of Tennessee Treasury Department now owns 75,810 shares of the construction company’s stock valued at $2,968,000 after purchasing an additional 9,602 shares during the period. 84.53% of the stock is currently owned by institutional investors and hedge funds.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $40.03, for a total transaction of $800,600.00. Following the transaction, the chief operating officer now owns 171,014 shares in the company, valued at $6,845,690.42. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 8.43% of the company’s stock.
NYSE LEN opened at $47.73 on Friday. The company has a market capitalization of $15.67 billion, a PE ratio of 7.52, a PEG ratio of 0.58 and a beta of 1.32. Lennar Co. has a 1-year low of $37.29 and a 1-year high of $64.90. The company has a current ratio of 11.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58.
Lennar (NYSE:LEN) last announced its quarterly earnings data on Wednesday, January 9th. The construction company reported $1.96 EPS for the quarter, topping the Zacks’ consensus estimate of $1.91 by $0.05. Lennar had a return on equity of 13.76% and a net margin of 8.24%. The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.46 billion. During the same quarter last year, the business posted $1.29 earnings per share. The firm’s revenue was up 70.7% compared to the same quarter last year. On average, research analysts predict that Lennar Co. will post 6.02 earnings per share for the current fiscal year.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's 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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