Argent Trust Co Boosts Holdings in Lennar Co. (NYSE:LEN)

Argent Trust Co grew its position in shares of Lennar Co. (NYSE:LEN) by 2.7% in the second quarter, Holdings Channel reports. The firm owned 4,537 shares of the construction company’s stock after purchasing an additional 120 shares during the period. Argent Trust Co’s holdings in Lennar were worth $680,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in Lennar by 3.6% in the 1st quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock worth $303,585,000 after acquiring an additional 60,713 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of Lennar by 3.8% during the first quarter. Bamco Inc. NY now owns 648,867 shares of the construction company’s stock worth $111,592,000 after purchasing an additional 23,483 shares in the last quarter. TCW Group Inc. increased its position in shares of Lennar by 15.9% in the second quarter. TCW Group Inc. now owns 610,549 shares of the construction company’s stock worth $91,503,000 after purchasing an additional 83,896 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Lennar by 157.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock valued at $98,889,000 after purchasing an additional 351,698 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in Lennar in the 1st quarter worth approximately $61,807,000. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Up 2.1 %

NYSE LEN opened at $192.45 on Friday. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $193.80. The stock has a market capitalization of $52.85 billion, a PE ratio of 13.08, a PEG ratio of 1.61 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The business’s 50-day moving average is $176.08 and its 200 day moving average is $163.80.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.18. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. Sell-side analysts forecast that Lennar Co. will post 14.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

LEN has been the subject of a number of research analyst reports. Raymond James downgraded shares of Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $180.00 to $174.00 in a report on Monday, July 22nd. StockNews.com cut Lennar from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Wedbush reaffirmed a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company lifted their price target on shares of Lennar from $195.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $173.71.

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.