Czech National Bank Purchases 3,120 Shares of Lennar Corporation $LEN

Key Points

• The Czech National Bank increased its stake in Lennar Corporation by 5.8% during the 2nd quarter, now owning 56,754 shares worth approximately $6.28 million.
• Lennar reported a net margin of 9.20% and earnings of $1.90 per share, slightly below the estimated $1.94, with revenues of $8.38 billion in the last quarter.
• Currently, institutional investors own approximately 81.10% of Lennar's stock, indicating strong institutional confidence in the company.

Czech National Bank increased its position in Lennar Corporation (NYSE:LEN - Free Report) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,754 shares of the construction company's stock after buying an additional 3,120 shares during the period. Czech National Bank's holdings in Lennar were worth $6,278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chemistry Wealth Management LLC increased its holdings in Lennar by 48.9% in the second quarter. Chemistry Wealth Management LLC now owns 4,134 shares of the construction company's stock valued at $457,000 after buying an additional 1,358 shares in the last quarter. Canandaigua National Trust Co of Florida bought a new stake in shares of Lennar in the 2nd quarter worth about $690,000. Canandaigua National Bank & Trust Co. boosted its holdings in shares of Lennar by 177.3% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 14,971 shares of the construction company's stock valued at $1,656,000 after buying an additional 9,573 shares during the period. Delphi Management Inc. MA boosted its stake in Lennar by 13.6% during the 2nd quarter. Delphi Management Inc. MA now owns 10,662 shares of the construction company's stock valued at $1,179,000 after purchasing an additional 1,274 shares during the period. Finally, Kera Capital Partners Inc. acquired a new stake in shares of Lennar in the 2nd quarter worth approximately $292,000. Institutional investors own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Zacks Research upgraded shares of Lennar from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Wells Fargo & Company increased their target price on shares of Lennar from $110.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 2nd. UBS Group decreased their price objective on shares of Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Barclays reduced their price objective on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Finally, Wall Street Zen lowered shares of Lennar from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Lennar has an average rating of "Hold" and an average price target of $133.08.

Lennar Stock Performance

Shares of NYSE LEN traded up $0.02 during mid-day trading on Thursday, reaching $132.99. 4,949,864 shares of the company's stock were exchanged, compared to its average volume of 3,066,563. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $193.80. The firm has a 50-day moving average price of $125.71 and a two-hundred day moving average price of $115.98. The firm has a market capitalization of $34.45 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 5.64 and a beta of 1.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). The business had revenue of $8.38 billion for the quarter, compared to analysts' expectations of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%.The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.45 EPS. Analysts predict that Lennar Corporation will post 12.48 EPS for the current year.

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, 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.