Regentatlantic Capital LLC purchased a new position in Lennar Corporation (NYSE:LEN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,885 shares of the construction company’s stock, valued at approximately $207,000.
A number of other large investors also recently modified their holdings of LEN. Alliancebernstein L.P. increased its stake in shares of Lennar Corporation by 527.2% in the first quarter. Alliancebernstein L.P. now owns 2,094,587 shares of the construction company’s stock worth $107,222,000 after buying an additional 1,760,608 shares in the last quarter. Capital Growth Management LP increased its stake in shares of Lennar Corporation by 55.5% in the first quarter. Capital Growth Management LP now owns 2,130,000 shares of the construction company’s stock worth $109,035,000 after buying an additional 760,000 shares in the last quarter. Oakmont Corp increased its stake in shares of Lennar Corporation by 1,293.5% in the first quarter. Oakmont Corp now owns 790,830 shares of the construction company’s stock worth $40,483,000 after buying an additional 734,080 shares in the last quarter. Nomura Holdings Inc. increased its stake in shares of Lennar Corporation by 1,223.5% in the first quarter. Nomura Holdings Inc. now owns 597,709 shares of the construction company’s stock worth $30,603,000 after buying an additional 552,547 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Lennar Corporation by 14.1% in the first quarter. UBS Asset Management Americas Inc. now owns 2,918,880 shares of the construction company’s stock worth $149,417,000 after buying an additional 361,684 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.
Lennar Corporation (LEN) opened at 51.88 on Friday. The firm’s 50-day moving average price is $53.38 and its 200-day moving average price is $51.27. Lennar Corporation has a 1-year low of $39.68 and a 1-year high of $55.75. The firm has a market cap of $12.17 billion, a P/E ratio of 15.17 and a beta of 1.26.
Lennar Corporation (NYSE:LEN) last posted its quarterly earnings results on Tuesday, June 20th. The construction company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.13. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the company posted $0.95 earnings per share. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. Equities research analysts anticipate that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Thursday, July 13th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.31%. The ex-dividend date was Tuesday, July 11th. Lennar Corporation’s dividend payout ratio is currently 4.68%.
A number of equities research analysts have weighed in on LEN shares. Zacks Investment Research raised Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, May 23rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $53.00 target price (up previously from $52.00) on shares of Lennar Corporation in a report on Thursday, June 22nd. Credit Suisse Group started coverage on Lennar Corporation in a report on Thursday, June 22nd. They set a “neutral” rating and a $55.00 price objective on the stock. Royal Bank Of Canada raised their price objective on Lennar Corporation from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, June 21st. Finally, Argus reissued a “buy” rating and set a $60.00 price objective (up previously from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Lennar Corporation currently has an average rating of “Buy” and a consensus target price of $56.53.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar Corporation stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the transaction, the chief operating officer now owns 139,433 shares in the company, valued at approximately $7,413,652.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.18% of the company’s stock.
Lennar Corporation Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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