Keybank National Association OH lessened its stake in Lennar Co. (NYSE:LEN) by 28.8% during the fourth quarter, Holdings Channel reports. The firm owned 22,472 shares of the construction company’s stock after selling 9,079 shares during the period. Keybank National Association OH’s holdings in Lennar were worth $1,421,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in LEN. QS Investors LLC boosted its holdings in shares of Lennar by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after purchasing an additional 25 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Lennar by 3.7% in the 2nd quarter. Macquarie Group Ltd. now owns 5,590 shares of the construction company’s stock valued at $298,000 after purchasing an additional 200 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Lennar by 55.3% in the 2nd quarter. Janus Henderson Group PLC now owns 44,156 shares of the construction company’s stock valued at $2,355,000 after purchasing an additional 15,731 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in shares of Lennar in the 2nd quarter valued at $314,000. Finally, Shell Asset Management Co. boosted its holdings in shares of Lennar by 111.4% in the 3rd quarter. Shell Asset Management Co. now owns 29,223 shares of the construction company’s stock valued at $1,135,000 after purchasing an additional 15,398 shares during the last quarter. Institutional investors own 86.35% of the company’s stock.
A number of brokerages have weighed in on LEN. Wedbush set a $60.00 price target on shares of Lennar and gave the company a “hold” rating in a report on Thursday, January 4th. Credit Suisse Group upgraded shares of Lennar from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $67.00 to $81.00 in a report on Monday, January 22nd. Zacks Investment Research lowered shares of Lennar from a “buy” rating to a “hold” rating in a report on Monday, January 15th. Wells Fargo & Co upgraded shares of Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 target price on the stock in a report on Tuesday, January 2nd. Finally, Mizuho restated a “hold” rating and set a $53.00 target price on shares of Lennar in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Lennar presently has a consensus rating of “Buy” and a consensus price target of $67.93.
In other news, CFO Bruce E. Gross sold 1,000 shares of the business’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $72.00, for a total value of $72,000.00. Following the completion of the sale, the chief financial officer now owns 356,043 shares of the company’s stock, valued at approximately $25,635,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce E. Gross sold 9,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $72.00, for a total transaction of $648,000.00. Following the completion of the sale, the chief financial officer now directly owns 346,043 shares of the company’s stock, valued at approximately $24,915,096. The disclosure for this sale can be found here. Insiders sold a total of 175,000 shares of company stock valued at $12,092,050 in the last three months. Insiders own 12.18% of the company’s stock.
Lennar Co. (LEN) opened at $59.15 on Wednesday. Lennar Co. has a 1-year low of $46.53 and a 1-year high of $72.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 8.42 and a quick ratio of 1.67. The company has a market cap of $14,317.92, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 0.63 and a beta of 1.26.
Lennar (NYSE:LEN) last released its earnings results on Wednesday, January 10th. The construction company reported $1.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.21). The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.59 billion. Lennar had a return on equity of 12.00% and a net margin of 6.41%. Lennar’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 EPS. equities analysts expect that Lennar Co. will post 5.29 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 26th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 25th. Lennar’s payout ratio is currently 4.68%.
Lennar 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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