Stone Ridge Asset Management LLC Takes $627,000 Position in Lennar Co. (LEN)

Stone Ridge Asset Management LLC acquired a new stake in Lennar Co. (NYSE:LEN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 9,921 shares of the construction company’s stock, valued at approximately $627,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Global X Management Co. LLC raised its holdings in Lennar by 15.6% in the 4th quarter. Global X Management Co. LLC now owns 6,474 shares of the construction company’s stock valued at $409,000 after acquiring an additional 876 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Lennar by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 313,127 shares of the construction company’s stock valued at $16,524,000 after acquiring an additional 924 shares in the last quarter. Norinchukin Bank The raised its holdings in Lennar by 7.3% in the 3rd quarter. Norinchukin Bank The now owns 15,124 shares of the construction company’s stock valued at $799,000 after acquiring an additional 1,023 shares in the last quarter. Comerica Bank raised its holdings in Lennar by 2.2% in the 3rd quarter. Comerica Bank now owns 50,676 shares of the construction company’s stock valued at $2,822,000 after acquiring an additional 1,099 shares in the last quarter. Finally, Corient Capital Partners LLC raised its holdings in Lennar by 6.8% in the 4th quarter. Corient Capital Partners LLC now owns 18,387 shares of the construction company’s stock valued at $1,163,000 after acquiring an additional 1,171 shares in the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

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Several equities analysts have weighed in on LEN shares. Wedbush lifted their price objective on Lennar from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, December 29th. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Tuesday, January 16th. ValuEngine cut Lennar from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $78.00 price target on shares of Lennar in a report on Thursday, January 11th. Finally, Evercore ISI raised Lennar from an “in-line” rating to an “outperform” rating in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $67.93.

In related news, CFO Bruce E. Gross sold 1,000 shares of the business’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $72.00, for a total transaction of $72,000.00. Following the sale, the chief financial officer now owns 356,043 shares in the company, valued at approximately $25,635,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Diane J. Bessette sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $69.50, for a total value of $695,000.00. Following the sale, the vice president now owns 222,396 shares in the company, valued at approximately $15,456,522. The disclosure for this sale can be found here. Insiders have sold a total of 175,000 shares of company stock worth $12,092,050 in the last 90 days. 8.50% of the stock is currently owned by corporate insiders.

Shares of Lennar stock opened at $58.06 on Friday. The firm has a market capitalization of $13,932.02, a price-to-earnings ratio of 15.08, a P/E/G ratio of 0.60 and a beta of 1.31. Lennar Co. has a 52-week low of $49.34 and a 52-week high of $72.17. The company has a current ratio of 8.42, a quick ratio of 1.67 and a debt-to-equity ratio of 0.80.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, January 10th. The construction company reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.21). The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.59 billion. Lennar had a return on equity of 12.00% and a net margin of 6.41%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 EPS. analysts forecast that Lennar Co. will post 5.29 earnings per share for the current fiscal year.

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Lennar Profile

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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