Capital Insight Partners LLC, an institutional investor, recently acquired a new position in shares of Lennar Co. (NYSE:LEN) in the second quarter of this year. According to the latest disclosure with the SEC, Capital Insight Partners LLC acquired 3,400 shares of Lennar’s construction company stock, which were valued at approximately $426,000.
Lennar, a leading home construction company, released its quarterly earnings results on Friday, September 15th. The company reported earnings per share of $3.91 for the quarter, surpassing analysts’ consensus estimates by $0.39. Lennar also generated revenue of $8.73 billion during the quarter, higher than analysts’ expectations of $8.49 billion. Despite a decrease in revenue compared to the same quarter last year, Lennar demonstrated a return on equity of 16.22% and a net margin of 11.66%. In the prior year’s same quarter, the company had posted EPS of $5.18.
Equities analysts anticipate that Lennar Co. will post EPS of 13.33 for the current fiscal year.
Several research firms have recently provided their insights on LEN’s performance and prospects. Raymond James raised its rating from “market perform” to “outperform” and set a target price of $150 for the company in July this year. The Goldman Sachs Group also upped their price objective on Lennar from $141 to $142 and gave it a “buy” rating in August 2023.
Wedbush reaffirmed its “neutral” rating and set a price objective of $123 for shares of Lennar in September 2023 while Seaport Res Ptn maintained its “buy” rating on Lennar in June this year.
BTIG Research also increased their price objective for Lennar from $148 to $161 and assigned it a “buy” rating in September this year.
According to data from Bloomberg.com, Lennar currently holds a consensus rating of “Moderate Buy” and a consensus price target of $134.25. It is important to note that two research analysts have rated the stock as a sell, five have given it a hold rating, and eleven have assigned a buy rating to the company’s stock.
The information provided above demonstrates the recent acquisition by Capital Insight Partners LLC and the positive quarterly earnings results announced by Lennar. The analysis also highlights various research firms’ ratings and price targets for the company’s stock.
[bs_slider_forecast ticker=”FTV”]
Institutional Investors and Insiders Drive Changes in Lennar Corporation’s Holdings
October 5, 2023 – Several institutional investors and hedge funds have recently made changes to their positions in Lennar Corporation (LEN). Close Asset Management Ltd acquired a new position in the company’s shares during the first quarter, worth approximately $37,000. MV Capital Management Inc. also increased its holdings in LEN by 47.0% during the first quarter, now owning 397 shares valued at $42,000 after purchasing an additional 127 shares.
In the second quarter, FNY Investment Advisers LLC purchased a new stake in Lennar worth about $61,000. Money Concepts Capital Corp lifted its holdings in the construction company’s stock by a significant 494.4% during the fourth quarter of last year. They now own 737 shares valued at $67,000 after purchasing an additional 613 shares.
Notably, Brown Brothers Harriman & Co., another institutional investor, raised its holdings in Lennar by 22.6% during the first quarter. The firm now owns 717 shares of LEN stock valued at $75,000 after acquiring an additional 132 shares.
Within Lennar news unrelated to institutional investors and hedge funds’ movements, EVP Jeffrey Joseph Mccall sold 10,000 shares on July 20th for an average price of $126.48 per share—amounting to a total transaction value of $1,264,800.00. Following this sale, Mccall holds approximately 141,386 shares valued at around $17,882,501.28.
Director Amy Banse bought 790 LEN shares on July 21st for an individual price of $126.42 per share—a total purchase value reaching $99,871.80.
It is interesting to note that within the last three months alone—between purchases and sales—an estimated total of around 2,469 company stocks were exchanged from insiders amounting to roughly $301,842. This represents approximately 9.53% of the overall stock ownership.
LEN has opened at $108.97 per share as of Thursday, showing a market capitalization of $31.32 billion, a P/E ratio of 8.08, a P/E/G ratio of 1.35, and a beta value of 1.48—the latter indicating higher volatility levels compared to the broader market average.
The company’s solid financial position also becomes apparent when considering its debt-to-equity ratio of 0.13, current ratio of 6.66, and quick ratio of 1.25. Furthermore, LEN’s stock has shown consistent performance with a 50-day simple moving average settling at $118.52 and a longer-term 200-day moving average closing in at $115.78.
While Lennar Corporation experienced fluctuations between its one-year low point of $69.90 and high peak of $133.24, it is crucial to analyze these changes within the context of the greater housing and construction industry landscape.
In conclusion, institutional investors and hedge funds’ positions in Lennar have recently evolved, showcasing fluctuations in holdings and subsequent purchases or sales undertaken by insiders—a notable trend within the given timeframe.
