Gateway Investment Advisers LLC raised its stake in Lennar Corporation (NYSE:LEN) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,604 shares of the construction company’s stock after buying an additional 48 shares during the period. Gateway Investment Advisers LLC’s holdings in Lennar Corporation were worth $672,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. SeaBridge Investment Advisors LLC increased its stake in shares of Lennar Corporation by 14.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 2,114 shares of the construction company’s stock valued at $108,000 after buying an additional 259 shares during the period. MUFG Americas Holdings Corp boosted its position in Lennar Corporation by 8.9% in the first quarter. MUFG Americas Holdings Corp now owns 3,030 shares of the construction company’s stock valued at $155,000 after buying an additional 248 shares in the last quarter. Advisory Services Network LLC purchased a new position in Lennar Corporation during the first quarter valued at $182,000. Fisher Asset Management LLC purchased a new position in Lennar Corporation during the first quarter valued at $206,000. Finally, Pacer Advisors Inc. boosted its position in Lennar Corporation by 27.0% in the first quarter. Pacer Advisors Inc. now owns 4,038 shares of the construction company’s stock valued at $207,000 after buying an additional 859 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.
Shares of Lennar Corporation (NYSE LEN) traded down 1.89% during midday trading on Friday, hitting $51.88. The company’s stock had a trading volume of 1,758,110 shares. 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 has a 52-week low of $39.68 and a 52-week high of $55.75. The stock’s 50 day moving average is $53.38 and its 200-day moving average is $51.27.
Lennar Corporation (NYSE:LEN) last issued its quarterly earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.13. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.90 billion. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. Lennar Corporation’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 EPS. Equities analysts predict that Lennar Corporation will post $3.82 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Thursday, July 13th were paid a $0.04 dividend. The ex-dividend date was Tuesday, July 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.31%. Lennar Corporation’s payout ratio is currently 4.68%.
Several research firms have recently weighed in on LEN. BidaskClub raised Lennar Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Zacks Investment Research cut Lennar Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $62.00 price target on shares of Lennar Corporation in a research report on Thursday, July 27th. Argus reissued a “buy” rating and set a $60.00 price target (up from $57.00) on shares of Lennar Corporation in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada increased their price target on Lennar Corporation from $61.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $56.53.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 139,433 shares in the company, valued at $7,413,652.61. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.18% of the stock is owned by corporate insiders.
About Lennar Corporation
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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