First American Trust FSB purchased a new position in shares of Lennar Co. (NYSE:LEN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 70,201 shares of the construction company’s stock, valued at approximately $3,402,000.
A number of other institutional investors have also made changes to their positions in the stock. Bank Hapoalim BM boosted its position in Lennar by 2.3% during the 1st quarter. Bank Hapoalim BM now owns 10,950 shares of the construction company’s stock worth $538,000 after purchasing an additional 250 shares during the period. Cerebellum GP LLC boosted its position in Lennar by 4.4% during the 1st quarter. Cerebellum GP LLC now owns 6,572 shares of the construction company’s stock worth $323,000 after purchasing an additional 278 shares during the period. Keybank National Association OH boosted its position in Lennar by 5.8% during the 1st quarter. Keybank National Association OH now owns 6,688 shares of the construction company’s stock worth $328,000 after purchasing an additional 366 shares during the period. Belpointe Asset Management LLC boosted its position in Lennar by 6.9% during the 1st quarter. Belpointe Asset Management LLC now owns 6,277 shares of the construction company’s stock worth $308,000 after purchasing an additional 406 shares during the period. Finally, LS Investment Advisors LLC boosted its position in Lennar by 2.8% during the 1st quarter. LS Investment Advisors LLC now owns 17,561 shares of the construction company’s stock worth $862,000 after purchasing an additional 481 shares during the period. 85.88% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on LEN shares. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Raymond James set a C$80.00 price objective on shares of West Fraser Timber and gave the stock a “strong-buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a GBX 785 ($10.26) price objective on shares of in a report on Wednesday, June 26th. Bank of America began coverage on shares of Guangshen Railway Co. Ltd ADR Class H in a report on Wednesday, June 26th. They issued an “underperform” rating on the stock. Finally, Susquehanna Bancshares began coverage on shares of Dow Chemical in a report on Wednesday, April 17th. They issued a “positive” rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.89.
Shares of Lennar stock traded down $0.14 during trading on Tuesday, reaching $45.86. The company had a trading volume of 4,961,031 shares, compared to its average volume of 3,483,133. The firm has a market capitalization of $14.78 billion, a P/E ratio of 7.22, a price-to-earnings-growth ratio of 1.02 and a beta of 1.18. The firm’s fifty day simple moving average is $49.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 13.93. Lennar Co. has a fifty-two week low of $37.29 and a fifty-two week high of $54.50.
Lennar (NYSE:LEN) last issued its earnings results on Tuesday, June 25th. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.17. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.13 billion. Lennar had a net margin of 8.86% and a return on equity of 12.03%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.58 EPS. On average, equities analysts forecast that Lennar Co. will post 5.31 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a $0.04 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.35%. Lennar’s dividend payout ratio (DPR) is presently 2.52%.
In other news, President Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $49.04, for a total value of $980,800.00. Following the sale, the president now owns 346,946 shares in the company, valued at approximately $17,014,231.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.43% of the company’s stock.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's 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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