Lennar Corporation $LEN Shares Sold by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. reduced its stake in Lennar Corporation by 4.1%, selling 3,700 shares during the second quarter, resulting in a total holding of 86,800 shares valued at approximately $9.6 million.
• After reporting earnings on September 18th, Lennar Corporation's shares are down 4.3%, despite beating earnings estimates at $2.29 per share but falling short on revenue projections with $8.81 billion reported.
• Analysts hold mixed opinions on Lennar, with one firm upgrading the stock to "hold" and others lowering price targets, reflecting a consensus average rating of "hold" and a target price of $128.33.

Mn Services Vermogensbeheer B.V. trimmed its position in shares of Lennar Corporation (NYSE:LEN - Free Report) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,800 shares of the construction company's stock after selling 3,700 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Lennar were worth $9,601,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEN. Ameriflex Group Inc. acquired a new position in shares of Lennar in the 4th quarter worth $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Lennar in the first quarter valued at about $30,000. NBC Securities Inc. bought a new position in shares of Lennar during the 1st quarter worth about $33,000. Franchise Capital Ltd bought a new position in shares of Lennar during the 1st quarter worth approximately $38,000. Finally, Disciplina Capital Management LLC boosted its holdings in shares of Lennar by 179.8% in the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock worth $38,000 after acquiring an additional 214 shares in the last quarter. Institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LEN. Zelman & Associates cut Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Royal Bank Of Canada lowered their target price on Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a report on Wednesday, June 18th. Wall Street Zen downgraded shares of Lennar from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Zacks Research raised shares of Lennar from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. Finally, UBS Group cut their price objective on shares of Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $128.33.

Lennar Price Performance

LEN stock traded down $5.70 during trading on Friday, hitting $127.17. 17,036,662 shares of the company's stock traded hands, compared to its average volume of 3,214,957. The business has a fifty day simple moving average of $125.97 and a 200 day simple moving average of $115.99. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $189.65. The stock has a market capitalization of $32.94 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 5.41 and a beta of 1.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65.

Lennar (NYSE:LEN - Get Free Report) last issued its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.15. The business had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. Lennar had a return on equity of 10.89% and a net margin of 7.72%.Lennar's revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.90 EPS. As a group, research analysts expect that Lennar Corporation will post 12.48 EPS for the current fiscal year.

About Lennar

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, Financial Services, Multifamily, and Lennar Other 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; and development, construction, and management of multifamily rental properties.