13F Activity: As Lennar Corp (LEN) Shares Declined, Holder Capital Growth Management LP Cut Position

13F Activity: As Lennar Corp (LEN) Shares Declined, Holder Capital Growth Management LP Cut Position

Ken Heebner decreased its stake in Lennar Corp (LEN) by 65.88% based on its latest 2016Q3 regulatory filing with the SEC. Capital Growth Management Lp sold 3.61M shares as the company’s stock declined 8.79% while stock markets rallied. The hedge fund run by Ken Heebner held 1.87M shares of the homebuilding company at the end of 2016Q3, valued at $79.18 million, down from 5.48M at the end of the previous reported quarter. Capital Growth Management Lp who had been investing in Lennar Corp for a number of months, seems to be less bullish one the $9.10B market cap company. The stock increased 0.41% or $0.18 during the last trading session, hitting $43.73. Lennar Corporation (NYSE:LEN) has declined 6.88% since June 7, 2016 and is downtrending. It has underperformed by 14.30% the S&P500.

Capital Growth Management Lp, which manages about $2.12B US Long portfolio, upped its stake in Tata Mtrs Ltd (NYSE:TTM) by 480,000 shares to 690,000 shares, valued at $27.59M in 2016Q3, according to the filing. It also increased its holding in Silver Bay Rlty Tr Corp (NYSE:SBY) by 590,000 shares in the quarter, for a total of 1.58 million shares, and has risen its stake in Nvr Inc (NYSE:NVR).

Since its founding in 1990, Ken Heebner’s Capital Growth Management has posted incredible success. With a ten-year cumulative return, from 2000 to 2010, of an astounding 290.2%, Heebner’s Focus fund far outpaced the S&P 500’s posted return of 16.4%. This all leads to the undeniable conclusion that Ken Heebner is very savvy when it comes to fun management. He has the distinction of being one of only a few managers who had the foresight to pull out of financial investments prior to the economic crisis. He was untouched by the dot-com bubble, too, because he took his cue from Warren Buffet, refusing to bet on something that he did not fully understand.

Insitutional Activity: The institutional sentiment decreased to 1.21 in 2016 Q3. Its down 0.03, from 1.24 in 2016Q2. The ratio fall, as 48 funds sold all LEN shares owned while 131 reduced positions. 57 funds bought stakes while 159 increased positions. They now own 180.27 million shares or 2.20% less from 184.32 million shares in 2016Q2. Hellman Jordan Mngmt Inc Ma last reported 1.14% of its portfolio in the stock. Moreover, Winslow Evans Crocker Incorporated has 0% invested in Lennar Corporation (NYSE:LEN) for 30,752 shares. Cap Growth Lp reported 1.87M shares or 3.73% of all its holdings. Gareth Morgan Invs Partnership has 0.46% invested in the company for 125,132 shares. First Foundation Advsrs has 0.03% invested in the company for 10,943 shares. Signaturefd Ltd Liability Corp holds 130 shares or 0% of its portfolio. First Mercantile Co last reported 4,525 shares in the company. Lord Abbett & Limited Liability Company, a New Jersey-based fund reported 2.80M shares. Wafra Invest Advisory Group Incorporated accumulated 0.88% or 279,290 shares. Rampart Inv Mngmt Lc last reported 11,966 shares in the company. Moreover, Advantus Capital Management has 0.02% invested in Lennar Corporation (NYSE:LEN) for 18,619 shares. 1832 Asset Mgmt Limited Partnership has 775,000 shares for 0.12% of their US portfolio. Seabridge Inv Advsr Limited Liability Co holds 0.02% of its portfolio in Lennar Corporation (NYSE:LEN) for 1,855 shares. The Illinois-based Advisory Rech has invested 0% in Lennar Corporation (NYSE:LEN). Moreover, First Washington has 1.46% invested in Lennar Corporation (NYSE:LEN) for 61,600 shares.

Insider Transactions: Since October 3, 2016, the stock had 0 buys, and 2 insider sales for $1.70 million net activity. Shares for $840,200 were sold by JAFFE JONATHAN M on Monday, October 3.

More important recent Lennar Corporation (NYSE:LEN) news were published by: Seekingalpha.com which released: “Lennar: Unfairly Out Of Favor?” on January 09, 2017, also Therealdeal.com published article titled: “Fitch rates Lennar’s $350M proposed debt BB+, gives positive outlook for …”, Schaeffersresearch.com published: “Buzz Stocks: Walt Disney Co, Loxo Oncology Inc, and Lennar Corporation” on December 19, 2016. More interesting news about Lennar Corporation (NYSE:LEN) was released by: Schaeffersresearch.com and their article: “Earnings Preview: Lennar Corporation (LEN)” with publication date: December 16, 2016.

According to Zacks Investment Research, “Lennar Corp is one of the nation’s leading builders of quality homes for all generations, building affordable, move-up and retirement homes. Under the Lennar Family of Builders banner, the Company includes the following brand names: Lennar Homes, U.S. Home, Greystone Homes, Village Builders, Renaissance Homes, Orrin Thompson Homes, Lundgren Bros., Winncrest Homes, Sunstar Communities, Don Galloway Homes, Patriot Homes, NuHome, Barry Andrews Homes, Concord Homes, Summit Homes, Cambridge Homes, Seppala Homes, Genesee and Rutenberg Homes.”

Lennar Corporation (NYSE:LEN) Ratings Coverage

Out of 18 analysts covering Lennar (NYSE:LEN), 11 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 61% are positive. $60.0 is the highest target while $45 is the lowest. The $52.38 average target is 19.78% above today’s ($43.73) stock price. Lennar has been the topic of 25 analyst reports since September 22, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by UBS given on Friday, January 15. As per Monday, February 8, the company rating was maintained by Credit Suisse. The company was maintained on Wednesday, March 30 by Wood. The firm earned “Neutral” rating on Wednesday, September 21 by Citigroup. The stock has “Outperform” rating given by RBC Capital Markets on Wednesday, September 21. M Partners maintained Lennar Corporation (NYSE:LEN) on Monday, December 21 with “Neutral” rating. The stock of Lennar Corporation (NYSE:LEN) earned “Neutral” rating by Citigroup on Thursday, March 31. As per Thursday, April 7, the company rating was maintained by Barclays Capital. On Monday, October 17 the stock rating was upgraded by Buckingham Research to “Buy”. The firm has “Outperform” rating given on Monday, June 27 by Raymond James.

LEN Company Profile

Lennar Corporation, incorporated on October 6, 1991, is a homebuilder that operates in various states with deliveries of approximately 24,290 new homes. The Company’s divisions include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily. The Company’s Homebuilding activities include the construction and sale of single-family attached and detached homes, as well as the purchase, development and sale of residential land directly and through unconsolidated entities in which it has investments. The Lennar Financial Services segment activities include mortgage financing, title insurance and closing services for its homebuyers and others. The Rialto segment activities include commercial real estate, investment management and finance company. The Lennar Multifamily segment focuses on developing a portfolio of institutional multifamily rental properties in select the United States markets.

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