BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stake in Lennar Co. (LEN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Lennar Co. (NYSE:LEN) by 11.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,801 shares of the construction company’s stock after buying an additional 9,913 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Lennar were worth $3,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Lennar by 3.7% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 7,217 shares of the construction company’s stock valued at $283,000 after buying an additional 260 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Lennar by 5.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,797 shares of the construction company’s stock valued at $344,000 after buying an additional 467 shares during the last quarter. Gateway Investment Advisers LLC lifted its holdings in shares of Lennar by 4.5% during the 4th quarter. Gateway Investment Advisers LLC now owns 12,397 shares of the construction company’s stock valued at $485,000 after buying an additional 538 shares during the last quarter. Butensky & Cohen Financial Security Inc. lifted its holdings in shares of Lennar by 1.9% during the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 30,570 shares of the construction company’s stock valued at $1,197,000 after buying an additional 575 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of Lennar during the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

In other news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $40.03, for a total transaction of $800,600.00. Following the completion of the transaction, the chief operating officer now directly owns 171,014 shares in the company, valued at $6,845,690.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.43% of the stock is owned by insiders.

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a “buy” rating and issued a $60.00 target price on shares of Lennar in a report on Sunday, February 24th. Wedbush lowered Lennar from an “outperform” rating to a “neutral” rating and set a $50.00 target price for the company. in a report on Thursday, February 21st. Credit Suisse Group restated a “hold” rating and issued a $49.00 target price on shares of Lennar in a report on Friday, February 15th. Zacks Investment Research upgraded Lennar from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Royal Bank of Canada set a $53.00 target price on Lennar and gave the stock a “buy” rating in a report on Thursday, January 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $57.29.

LEN opened at $48.02 on Friday. Lennar Co. has a twelve month low of $37.29 and a twelve month high of $64.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 11.48 and a quick ratio of 1.12. The company has a market capitalization of $15.58 billion, a P/E ratio of 7.56, a P/E/G ratio of 0.58 and a beta of 1.32.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, January 9th. The construction company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. Lennar had a return on equity of 13.76% and a net margin of 8.24%. The company had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.46 billion. During the same period in the previous year, the company earned $1.29 earnings per share. The company’s quarterly revenue was up 70.7% compared to the same quarter last year. Equities analysts expect that Lennar Co. will post 6.02 earnings per share for the current year.

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Lennar 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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