Summit Trail Advisors LLC Raises Stake in Lennar Co. (NYSE:LEN)

Summit Trail Advisors LLC increased its stake in Lennar Co. (NYSE:LEN) by 9.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,187 shares of the construction company’s stock after acquiring an additional 190 shares during the quarter. Summit Trail Advisors LLC’s holdings in Lennar were worth $328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rise Advisors LLC grew its stake in Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after acquiring an additional 121 shares in the last quarter. J.Safra Asset Management Corp bought a new position in Lennar in the first quarter worth approximately $30,000. New Covenant Trust Company N.A. purchased a new position in Lennar during the 1st quarter worth $32,000. Redmont Wealth Advisors LLC bought a new stake in Lennar during the 1st quarter valued at $35,000. Finally, Fortitude Family Office LLC grew its position in shares of Lennar by 223.6% during the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after buying an additional 161 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 2.0 %

NYSE:LEN opened at $185.77 on Tuesday. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $177.07 and a 200-day simple moving average of $164.16. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $193.80. The company has a market capitalization of $51.01 billion, a P/E ratio of 12.63, a PEG ratio of 1.61 and a beta of 1.61.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The business had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter in the previous year, the business earned $3.91 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts anticipate that Lennar Co. will post 14.16 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on LEN shares. Barclays lifted their price objective on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday. BTIG Research reduced their price target on shares of Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, June 20th. The Goldman Sachs Group downgraded shares of Lennar from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $180.00 to $174.00 in a research note on Monday, July 22nd. Argus boosted their price objective on shares of Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $179.72.

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, 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.