Perpetual Ltd Raises Stock Holdings in Lennar Corporation $LEN

Key Points

• Perpetual Ltd increased its stake in Lennar Corporation by 72.4%, owning 223,832 shares valued at $24.76 million following additional purchases in the second quarter.
• Lennar reported Q3 earnings of $2.29 EPS, exceeding the consensus estimate but experiencing a 6.4% decline in revenue year-over-year, totaling $8.81 billion.
• Analysts have varying ratings for Lennar, with 14 Hold ratings and a consensus price target of $128.33, reflecting mixed sentiment amid recent reductions in target prices by some brokerages.

Perpetual Ltd raised its stake in Lennar Corporation (NYSE:LEN - Free Report) by 72.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 223,832 shares of the construction company's stock after buying an additional 94,017 shares during the period. Perpetual Ltd owned about 0.08% of Lennar worth $24,758,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of LEN. Tokio Marine Asset Management Co. Ltd. boosted its stake in Lennar by 1.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,719 shares of the construction company's stock worth $886,000 after acquiring an additional 89 shares in the last quarter. NorthRock Partners LLC lifted its stake in Lennar by 1.4% in the first quarter. NorthRock Partners LLC now owns 6,509 shares of the construction company's stock valued at $747,000 after purchasing an additional 93 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Lennar by 1.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 8,841 shares of the construction company's stock valued at $1,015,000 after buying an additional 95 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Lennar by 2.3% during the 1st quarter. EP Wealth Advisors LLC now owns 4,782 shares of the construction company's stock valued at $549,000 after buying an additional 107 shares during the last quarter. Finally, Mather Group LLC. lifted its holdings in Lennar by 8.4% during the first quarter. Mather Group LLC. now owns 1,517 shares of the construction company's stock valued at $174,000 after purchasing an additional 117 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Lennar Stock Performance

Shares of LEN traded up $0.43 during trading hours on Tuesday, reaching $122.34. 1,123,509 shares of the company traded hands, compared to its average volume of 3,279,823. The stock has a market capitalization of $31.69 billion, a P/E ratio of 12.10, a P/E/G ratio of 5.40 and a beta of 1.33. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $189.65. The business has a fifty day moving average price of $126.15 and a 200-day moving average price of $115.89.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15. The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The company's quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.90 EPS. Equities analysts anticipate that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. 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 note on Tuesday, September 2nd. Bank of America upped their price target on Lennar from $115.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, September 18th. JMP Securities upped their price objective on shares of Lennar from $130.00 to $140.00 and gave the stock a "market outperform" rating in a report on Monday. Zelman & Associates downgraded Lennar from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 18th. Finally, UBS Group increased their target price on Lennar from $146.00 to $161.00 and gave the stock a "buy" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Lennar presently has an average rating of "Hold" and a consensus price target of $123.75.

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.