SSgA Funds Management, Inc. has recently announced that it has increased stake in Lennar Corp. (NYSE:LEN) by 1.10%. After grabbing 11.56 million shares, the institutional investor is now in possession of 0.13 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 4.62% having worth around $1.23 billion. Moreover, Fidelity Management & Research Co increased its share by 0.29 million to have a control over 10.85 million shares. And Manulife Investment Management raised its holdings to 0.37 million shares by acquiring 6.54 million shares or 2.62% of the stake.
Lennar Corp. (LEN) concluded trading on 12/14/23 at a closing price of $154.81, with 4.56 million shares of worth about $705.59 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 29.21% during that period and on Thursday the price saw a gain of about 6.65%. Currently the company’s common shares owned by public are about 253.63M shares, out of which, 244.53M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 59 times over the past 12 months. They bought 1,168,699 shares in 33 of the transactions. In 26 selling transactions, insiders dumped 540,774 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Lennar Corp. Vanguard Total Stock Market ETF is currently holding 7.23 million shares of worth totaling $771.42 million. The company recently came buying 25900.0 shares which brought its stake up to 2.89% of the company’s outstanding shares. Vanguard 500 Index Fund bought 26793.0 shares, after which its hold over company’s outstanding shares expand to 2.41%, leaving 6.03 million shares with the mutual fund that have a worth of about $643.75 million. Vanguard Mid Cap Index Fund, after buying 5.76 million shares, have now control over 2.30% of the stake in the company. It holds 16443.0 shares of worth $614.16 million.
However, the stock later moved at a day high price of 155.43, or with a gain of 6.65%. Stock saw a price change of 12.61% in past 5 days and over the past one month there was a price change of 20.70%. Year-to-date (YTD), LEN shares are showing a performance of 71.06% which increased to 70.89% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $87.35 but also hit the highest price of $145.91 during that period. The average intraday trading volume for Lennar Corp. shares is 2.07 million. The stock is currently trading 17.64% above its 20-day simple moving average (SMA20), while that difference is up 29.42% for SMA50 and it goes to 33.81% higher than SMA200.
SSgA Funds Management, Inc. acquired 11.56 million shares of Lennar Corp. having value of about $1.23 billion. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 0.13 million shares in the company valued at close to $19396299.71, or have control over 1.10% stake in the company. Lennar Corp. (NYSE: LEN) currently have 253.63M outstanding shares and institutions hold larger chunk of about 82.57% of that. Holding of mutual funds in the company is about 42.87% while other institutional holders and individual stake holders have control over 51.54% and 2.86% of the stake respectively.
The stock has a current market capitalization of $44.02B and its 3Y-monthly beta is at 1.55. PE ratio of stock for trailing 12 months is 11.47, while it has posted earnings per share of $13.50 in the same period. Its PEG reads 19.12 and has Quick Ratio of 1.05 while making debt-to-equity ratio of 0.18. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LEN, volatility over the week remained 3.13% while standing at 2.01% over the month.
Analysts are in expectations that Lennar Corp. (LEN) stock would likely to be making an EPS of $4.59 in the current quarter, while forecast for next quarter EPS is $2.51 and it is $14.43 for next year. For the current quarter EPS, analysts have given the company a lowest target $4.35 which is $4.76 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $4.55 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 6.35% while it is estimated to increase by 10.94% in next year. EPS is likely to shrink at an annualized rate of 0.60% for next 5-years, compared to annual growth of 36.00% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on November 27, 2023 offering a Hold rating for the stock and assigned a target price of $117 to it.
