Long Pond Capital LP Trims Stake in Lennar Co. (NYSE:LEN)

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Long Pond Capital LP decreased its position in shares of Lennar Co. (NYSE:LEN) by 33.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,558,812 shares of the construction company’s stock after selling 768,821 shares during the period. Lennar comprises about 2.3% of Long Pond Capital LP’s holdings, making the stock its 13th largest holding. Long Pond Capital LP owned about 0.48% of Lennar worth $75,540,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its stake in shares of Lennar by 327.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 23,518 shares of the construction company’s stock worth $1,155,000 after buying an additional 18,015 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Lennar by 134.7% in the 1st quarter. Janus Henderson Group PLC now owns 133,687 shares of the construction company’s stock worth $6,563,000 after buying an additional 76,736 shares during the last quarter. Comerica Bank grew its stake in shares of Lennar by 4.7% in the 1st quarter. Comerica Bank now owns 58,143 shares of the construction company’s stock worth $2,956,000 after buying an additional 2,616 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Lennar by 0.9% in the 1st quarter. Victory Capital Management Inc. now owns 60,323 shares of the construction company’s stock worth $2,961,000 after buying an additional 528 shares during the last quarter. Finally, First Allied Advisory Services Inc. purchased a new stake in shares of Lennar in the 1st quarter worth approximately $653,000. Hedge funds and other institutional investors own 83.93% of the company’s stock.

LEN has been the topic of several recent research reports. Raymond James downgraded Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a research note on Tuesday, June 18th. They noted that the move was a valuation call. Zacks Investment Research downgraded Lennar from a “hold” rating to a “sell” rating and set a $53.00 price target on the stock. in a research note on Thursday, May 30th. BTIG Research set a $65.00 price target on Lennar and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Seaport Global Securities initiated coverage on Lennar in a research note on Friday, August 23rd. They issued a “buy” rating and a $71.00 price target on the stock. Finally, Wedbush set a $62.00 price target on Lennar and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $57.10.

Shares of LEN opened at $54.58 on Friday. The business’s fifty day simple moving average is $50.00 and its two-hundred day simple moving average is $50.12. The company has a current ratio of 13.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. Lennar Co. has a 12 month low of $37.29 and a 12 month high of $54.98. The company has a market cap of $17.58 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 1.17 and a beta of 1.09.

Lennar (NYSE:LEN) last issued its earnings results on Tuesday, June 25th. The construction company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.13 by $0.17. Lennar had a return on equity of 12.03% and a net margin of 8.86%. The business had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same period last year, the business posted $1.58 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts forecast that Lennar Co. will post 5.32 EPS for the current year.

In other Lennar news, President Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $49.04, for a total transaction of $980,800.00. Following the sale, the president now directly owns 346,946 shares in the company, valued at approximately $17,014,231.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.43% of the company’s stock.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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