Lennar Corporation (LEN) Stake Lessened by ETRADE Capital Management LLC

ETRADE Capital Management LLC decreased its holdings in Lennar Corporation (NYSE:LEN) by 24.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,316 shares of the construction company’s stock after selling 2,314 shares during the quarter. ETRADE Capital Management LLC’s holdings in Lennar were worth $386,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Norinchukin Bank The grew its stake in shares of Lennar by 7.3% in the third quarter. Norinchukin Bank The now owns 15,124 shares of the construction company’s stock worth $799,000 after purchasing an additional 1,023 shares in the last quarter. ING Groep NV bought a new position in shares of Lennar in the third quarter worth $343,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Lennar by 19.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,340 shares of the construction company’s stock worth $2,077,000 after purchasing an additional 6,480 shares in the last quarter. Rational Advisors LLC acquired a new stake in shares of Lennar in the third quarter valued at $1,438,000. Finally, Macquarie Group Ltd. lifted its holdings in shares of Lennar by 64.4% in the third quarter. Macquarie Group Ltd. now owns 9,190 shares of the construction company’s stock valued at $485,000 after buying an additional 3,600 shares during the period. 81.34% of the stock is owned by institutional investors.

In other news, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $56.48, for a total transaction of $282,400.00. Following the completion of the sale, the chief financial officer now directly owns 376,043 shares of the company’s stock, valued at $21,238,908.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 12.18% of the company’s stock.

LEN has been the subject of several research analyst reports. Zacks Investment Research lowered Lennar from a “buy” rating to a “hold” rating in a report on Monday, September 18th. JMP Securities upgraded Lennar from a “market perform” rating to an “outperform” rating in a report on Monday, November 6th. MKM Partners restated a “neutral” rating on shares of Lennar in a report on Tuesday, September 5th. Mizuho restated a “hold” rating and issued a $53.00 price objective on shares of Lennar in a report on Friday, October 27th. Finally, BTIG Research upped 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Lennar currently has a consensus rating of “Hold” and an average target price of $57.93.

Shares of Lennar Corporation (NYSE:LEN) traded down $0.22 during midday trading on Monday, hitting $62.56. The stock had a trading volume of 4,958,500 shares, compared to its average volume of 2,440,143. Lennar Corporation has a twelve month low of $41.83 and a twelve month high of $63.27. The stock has a market capitalization of $14,717.87, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.27 and a beta of 1.35. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76.

Lennar (NYSE:LEN) last announced its earnings results on Tuesday, October 3rd. The construction company reported $1.06 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the business posted $1.01 earnings per share. Lennar’s revenue was up 15.1% compared to the same quarter last year. research analysts anticipate that Lennar Corporation will post 4.04 earnings per share for the current fiscal year.

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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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