Telemus Capital LLC, a prominent institutional investor, has reduced its position in Lennar Co. (NYSE:LEN) by 8.0% during the second quarter of this year, according to the company’s recent filing with the Securities and Exchange Commission (SEC). The investor now owns 13,427 shares of Lennar’s stock after selling 1,171 shares during the period. At the end of the most recent reporting period, Telemus Capital LLC’s holdings in Lennar were valued at $1,683,000.
On Friday, September 15th, Lennar announced its quarterly earnings data. The construction company reported earnings per share (EPS) of $3.91 for the quarter, surpassing the consensus estimate of $3.52 by $0.39. The company recorded revenue of $8.73 billion for the quarter compared to the consensus estimate of $8.49 billion. Lennar achieved a net margin of 12.66% and a return on equity of 18.27%. However, its quarterly revenue experienced a decline of 2.3% year-over-year.
Last year during the same quarter, Lennar posted earnings per share of $5.18 – an important point to consider when evaluating the current performance against previous figures in order to draw conclusions regarding overall financial health and stability.
Equities analysts have recently provided their insights concerning LEN shares. For instance, Evercore ISI raised their price target on Lennar from $153.00 to $161.00 in their report issued on Friday, June 16th.
Accordingly to Seaport Res Ptn’s analysts,the construction company is seen as a “buy”. Citigroup also weighed in on this matter by lowering their price target from $148 years ago to now stand at $139 but still recommended buying it.
BTIG Research increased their price target on Lennar from $120.00 to $148.00 in their research note on Friday, June 16th.
Finally, UBS Group also raised their price target on Lennar from $127.00 to $150.00, extending a positive outlook for the company’s stock.
As for the overall rating of Lennar by analysts, according to data from Bloomberg.com, the company currently has an average rating of “Hold” with an average target price of $127.56.
In the light of recent events and financial performance, it will be interesting to observe how Lennar continues to navigate the market and maintain its position within the construction industry moving forward.
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Recent Activity Among Institutional Investors and Insider Trading at Lennar Sparks Interest in Financial Community
The recent activity among institutional investors and hedge funds with regards to their stakes in Lennar, a prominent construction company, has raised eyebrows and sparked interest within the financial community. Harvest Fund Management Co. Ltd, for instance, increased its position in Lennar by 10.6% during the second quarter, now owning 1,016 shares valued at $127,000 after acquiring an additional 97 shares. Merit Financial Group LLC also grew its stake in Lennar by 3.0% during the first quarter, now owning 3,851 shares valued at $405,000 after acquiring an additional 112 shares.
The trend continues as Clearbridge Investments LLC acquired an additional 113 shares of Lennar during the fourth quarter, bringing its total ownership to 27,918 shares worth $2,527,000. Lakewood Asset Management LLC also increased its stake by 1.3% during the first quarter by acquiring an additional 116 shares valued at $964,000. Finally, MV Capital Management Inc. boosted its stake in Lennar by a staggering 47.0% during the first quarter through the acquisition of an extra 127 shares valued at $42,000.
These actions have resulted in approximately 79.87% of Lennar’s stock being currently owned by hedge funds and other institutional investors.
In a surprising turn of events on July 21st of this year, Director Amy Banse made a significant acquisition of Lennar stock through the purchase of 790 shares at an average price of $126.42 per share. This transaction amounted to a total value of $99,871.80 and increased Banse’s holdings to a total of 7,293 shares valued at $921,981.06.
Moreover,on Thursday July20th,EVP Jeffrey Joseph Mccall sold off his personal Lennar stocks amounting upto ten thousand shares of the comany at $126.48,thus contributing to a total value of $1,264,800.00.With this,McCall’s current expertise hold up to 141,386 stocks valuued at approximately $17,882,501.28.
Additionally,in the last quarter alone,the insiders i.e company officials ,bought approximately 2,634 shares worth around $321,855.Insiders now constitution upto 9.53% of the company stock’s ownership.
Focusing on Lennar’s stock performance as of September 17,2023,it opened at $114.76 on Friday.The company has demonstrated a strong quick ratio of 1.25 and current ratio of 7.09.While it boasts a debt-to-equity ratio of just 0.15,the firm maintains a market capitalization of $32.98 billion.The stock’s price-to-earnings (P/E) ratio stands at an attractive rate of 7.83 and its price-to-earnings-growth (PEG) ratio points towards positive growth prospects at 1.53.The beta,a measure that reflects systematic risk in comparison with the market,is registered as relatively high for Lennar at1.48.
Looking back over the past year,Lennar has seen share prices ranging from a low point of$69.90 to a high point reaching an impressive$133.24.These fluctuations in stock price will be watched closely by investors as they consider the potential for profitability and growth within the company.
In conclusion,Lennar’s recent activity in terms of institutional investors and hedge fund positions have been met with curiosity within the financial world.Directors such as Amy Banse have made substantial acquisitions while other officials like Jeffrey Joseph Mccall have chosen to sell off their stocks.Personally owned stakes from insiders continue to demonstrate confidence in Lennar’s potential.Moreover,strong financial indicators including low debt-to-equity ratio and favorable P/E and PEG ratios contribute to the appeal of investing in Lennar.All eyes will remain on share price movements as investors weigh the company’s future prospects.
