SSgA Funds Management, Inc. recently announced the acquisition of new stake in Lennar Corp. (NYSE:LEN). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.10% to 11.56 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 4.62% valued currently at $1.72 billion. In addition, Fidelity Management & Research Co raised its holdings by 0.29 million to 10.85 million shares. And Greenhaven Associates, Inc. has lifted its position by 0.67% or 60461.0 shares – to 9.04 million shares.
Currently, there are 253.63M common shares owned by the public and among those 244.46M shares have been available to trade.
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Insiders at the company have transacted a total of 58 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 1,168,699 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 440,774 shares.
The top 3 mutual fund holders in Lennar Corp. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 7.2 million shares of the company’s stock, all valued at over $1.07 billion. The company sold 40429.0 shares recently to bring their total holdings to about 2.88% of the shares outstanding. Vanguard 500 Index Fund sold 45559.0 shares to see its total holdings shrink to 6.05 million shares valued at over $901.03 million and representing 2.42% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.14 million shares to bring its total holdings to over 5.62 million shares at a value of $838.1 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.25% of the shares outstanding.
However, the script later moved the day high at 152.92, down -4.95%. The company’s stock has a 5-day price change of -1.93% and 42.20% over the past three months. LEN shares are trading -0.97% year to date (YTD), with the 12-month market performance up to 52.64% higher. It has a 12-month low price of $94.11 and touched a high of $156.01 over the same period. LEN has an average intraday trading volume of 2.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.30%, 5.68%, and 21.21% respectively.
Institutional ownership of Lennar Corp. (NYSE: LEN) shares accounts for 83.04% of the company’s 253.63M shares outstanding. Mutual fund holders own 43.92%, while other institutional holders and individual stakeholders account for 51.14% and 2.79% respectively.
It has a market capitalization of $41.97B and a beta (3y monthly) value of 1.52. The stock’s trailing 12-month PE ratio is 10.72, while the earnings-per-share (ttm) stands at $13.76. The company has a PEG of 17.87 and a Quick Ratio of 1.72 with the debt-to-equity ratio at 0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.50% over the week and 1.93% over the month.
Analysts forecast that Lennar Corp. (LEN) will achieve an EPS of $2.21 for the current quarter, $3.27 for the next quarter and $16.11 for 2025. The lowest estimate earnings-per-share for the quarter is $2.16 while analysts give the company a high EPS estimate of $2.32. Comparatively, EPS for the current quarter was $2.06 a year ago. Earnings per share for the fiscal year are expected to increase by 4.84%, and 11.20% over the next financial year. EPS should shrink at an annualized rate of 0.60% over the next five years, compared to 20.35% over the past 5-year period.
Looking at the support for the LEN, a number of firms have released research notes about the stock. Jefferies stated their Hold rating for the stock in a research note on November 27, 2023, with the firm’s price target at $117.
