Commonwealth Equity Services LLC grew its position in Lennar Co. (NYSE:LEN) by 23.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,397 shares of the construction company’s stock after buying an additional 2,346 shares during the period. Commonwealth Equity Services LLC’s holdings in Lennar were worth $730,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of LEN. Glenhill Advisors LLC purchased a new position in shares of Lennar during the fourth quarter valued at approximately $66,782,000. Swiss National Bank raised its holdings in shares of Lennar by 22.0% during the first quarter. Swiss National Bank now owns 912,888 shares of the construction company’s stock valued at $53,806,000 after purchasing an additional 164,388 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Lennar by 43.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 836,870 shares of the construction company’s stock valued at $49,325,000 after purchasing an additional 254,323 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of Lennar during the fourth quarter valued at approximately $38,955,000. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Lennar by 86.7% during the first quarter. Asset Management One Co. Ltd. now owns 581,054 shares of the construction company’s stock valued at $34,248,000 after purchasing an additional 269,826 shares during the last quarter. 86.22% of the stock is owned by institutional investors and hedge funds.
Lennar opened at $52.50 on Friday, according to MarketBeat Ratings. The company has a market capitalization of $16.69 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 0.56 and a beta of 1.25. Lennar Co. has a 1-year low of $48.71 and a 1-year high of $72.17. The company has a debt-to-equity ratio of 0.79, a current ratio of 16.40 and a quick ratio of 0.84.
Lennar (NYSE:LEN) last posted its quarterly earnings results on Tuesday, June 26th. The construction company reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $1.13. The business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.10 billion. Lennar had a net margin of 6.49% and a return on equity of 14.18%. The company’s revenue was up 67.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. equities research analysts anticipate that Lennar Co. will post 4.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 26th. Shareholders of record on Thursday, July 12th will be given a $0.04 dividend. The ex-dividend date is Wednesday, July 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.30%. Lennar’s payout ratio is currently 4.20%.
In related news, Director Jeffrey Sonnenfeld sold 2,095 shares of the company’s stock in a transaction on Friday, April 6th. The shares were sold at an average price of $62.98, for a total transaction of $131,943.10. Following the completion of the transaction, the director now owns 32,072 shares in the company, valued at $2,019,894.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jeffrey Joseph Mccall sold 50,887 shares of the company’s stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $50.70, for a total transaction of $2,579,970.90. Following the transaction, the senior vice president now owns 190,052 shares of the company’s stock, valued at approximately $9,635,636.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,870 shares of company stock valued at $5,455,795. Company insiders own 8.50% of the company’s stock.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Lennar from a “hold” rating to a “strong-buy” rating and set a $59.00 target price for the company in a research report on Thursday. Citigroup restated a “buy” rating and set a $65.00 target price on shares of Lennar in a research report on Wednesday. Bank of America boosted their target price on shares of Lennar from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays restated an “overweight” rating and set a $65.00 target price (down from $72.00) on shares of Lennar in a research report on Wednesday. Finally, Wedbush restated a “neutral” rating and set a $56.00 target price (down from $62.00) on shares of Lennar in a research report on Wednesday. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $71.69.
Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.
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