Lennar Corporation $LEN Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its position in Lennar Corporation (NYSE:LEN) by 97.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,763 shares of the construction company’s stock after selling 1,188,601 shares during the quarter. Pacer Advisors Inc.’s holdings in Lennar were worth $3,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. denkapparat Operations GmbH acquired a new stake in shares of Lennar during the 2nd quarter worth about $408,000. MBB Public Markets I LLC purchased a new position in Lennar in the first quarter valued at approximately $298,000. Swiss National Bank raised its holdings in Lennar by 4.3% during the second quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock worth $77,745,000 after purchasing an additional 29,300 shares in the last quarter. Waverton Investment Management Ltd purchased a new stake in shares of Lennar during the 2nd quarter worth approximately $1,051,000. Finally, Longfellow Investment Management Co. LLC acquired a new position in shares of Lennar in the 2nd quarter valued at $441,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Trading Down 0.1%

Shares of LEN stock opened at $103.81 on Wednesday. The company has a market capitalization of $26.47 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 1.13 and a beta of 1.38. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $120.10 and its two-hundred day moving average is $121.43. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $144.24.

Lennar (NYSE:LEN) last released its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a return on equity of 9.27% and a net margin of 6.08%.The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter last year, the company earned $4.03 EPS. Lennar’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LEN shares. Zacks Research raised shares of Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 4th. JPMorgan Chase & Co. reduced their target price on Lennar from $115.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, December 18th. Royal Bank Of Canada downgraded Lennar from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $106.00 to $95.00 in a research note on Wednesday, December 17th. Wedbush reiterated a “neutral” rating and issued a $130.00 price objective on shares of Lennar in a research note on Monday, September 22nd. Finally, Bank of America restated an “underperform” rating and set a $95.00 target price (down from $125.00) on shares of Lennar in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $109.62.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.