DAVENPORT & Co LLC Acquires 18,005 Shares of Lennar Corporation $LEN

DAVENPORT & Co LLC lifted its holdings in Lennar Corporation (NYSE:LEN) by 75.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,971 shares of the construction company’s stock after acquiring an additional 18,005 shares during the period. DAVENPORT & Co LLC’s holdings in Lennar were worth $5,290,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in Lennar in the 2nd quarter worth approximately $33,000. Rexford Capital Inc. bought a new position in shares of Lennar during the second quarter worth $36,000. Mid American Wealth Advisory Group Inc. purchased a new position in Lennar during the second quarter valued at $43,000. Cary Street Partners Financial LLC bought a new stake in Lennar in the 2nd quarter valued at $47,000. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Lennar by 190.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 573 shares of the construction company’s stock valued at $63,000 after purchasing an additional 376 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Up 0.2%

Shares of LEN opened at $105.00 on Friday. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $121.44 and a 200 day moving average of $121.43. The company has a market cap of $26.78 billion, a PE ratio of 13.14, a P/E/G ratio of 1.14 and a beta of 1.38. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $144.24.

Lennar (NYSE:LEN) last announced its earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.27%. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. During the same period in the prior year, the company posted $4.03 EPS. The company’s revenue was down 5.8% compared to the same quarter last year. On average, sell-side analysts expect that Lennar Corporation will post 12.48 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada cut Lennar from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $106.00 to $95.00 in a report on Wednesday, December 17th. JMP Securities upped their price objective on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a report on Monday, September 22nd. Barclays lowered their target price on Lennar from $98.00 to $88.00 and set an “underweight” rating for the company in a research report on Thursday, December 18th. UBS Group decreased their price target on shares of Lennar from $161.00 to $137.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lennar in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $109.62.

Lennar 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.