Raymond James Financial Services Advisors Inc. Sells 15,343 Shares of Lennar Corporation (LEN)

Raymond James Financial Services Advisors Inc. lowered its position in shares of Lennar Corporation (NYSE:LEN) by 48.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,419 shares of the construction company’s stock after selling 15,343 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Lennar were worth $867,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LEN. Alps Advisors Inc. boosted its holdings in shares of Lennar by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,280 shares of the construction company’s stock valued at $495,000 after buying an additional 24 shares during the last quarter. QS Investors LLC boosted its holdings in shares of Lennar by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after buying an additional 25 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of Lennar by 0.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the construction company’s stock valued at $444,000 after buying an additional 36 shares during the last quarter. MAI Capital Management boosted its holdings in shares of Lennar by 1.3% in the 2nd quarter. MAI Capital Management now owns 4,707 shares of the construction company’s stock valued at $251,000 after buying an additional 60 shares during the last quarter. Finally, Strs Ohio boosted its holdings in shares of Lennar by 0.4% in the 2nd quarter. Strs Ohio now owns 18,136 shares of the construction company’s stock valued at $967,000 after buying an additional 68 shares during the last quarter. 81.34% of the stock is owned by hedge funds and other institutional investors.

Shares of Lennar Corporation (LEN) opened at $62.56 on Friday. Lennar Corporation has a 12 month low of $41.83 and a 12 month high of $63.27. The company has a quick ratio of 0.59, a current ratio of 7.76 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $14,717.87, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.52 and a beta of 1.34.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.05. Lennar had a return on equity of 12.37% and a net margin of 6.65%. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the prior year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. equities analysts expect that Lennar Corporation will post 4.04 earnings per share for the current year.

Several research firms have recently commented on LEN. JMP Securities raised Lennar from a “market perform” rating to an “outperform” rating in a report on Monday, November 6th. Mizuho reissued a “hold” rating and issued a $53.00 price objective on shares of Lennar in a report on Friday, October 27th. UBS began coverage on Lennar in a report on Wednesday, October 25th. They issued a “buy” rating for the company. BTIG Research increased their price objective on Lennar from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Finally, Bank of America increased their price objective on Lennar from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $57.93.

In related news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 371,043 shares in the company, valued at approximately $22,262,580. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.18% of the stock is currently owned by corporate insiders.

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About Lennar

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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