Sentry Investment Management LLC acquired a new position in shares of Lennar Co. (NYSE:LEN) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 17,946 shares of the construction company’s stock, valued at approximately $838,000.
Other large investors have also recently modified their holdings of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of Lennar by 475.0% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,990 shares of the construction company’s stock worth $157,000 after acquiring an additional 2,470 shares during the period. Ayalon Holdings Ltd. bought a new stake in shares of Lennar during the second quarter worth approximately $158,000. Usca Ria LLC bought a new stake in shares of Lennar during the second quarter worth approximately $203,000. Levin Capital Strategies L.P. bought a new stake in shares of Lennar during the second quarter worth approximately $210,000. Finally, Dupont Capital Management Corp boosted its holdings in shares of Lennar by 46.5% during the second quarter. Dupont Capital Management Corp now owns 4,089 shares of the construction company’s stock worth $215,000 after acquiring an additional 1,298 shares during the period. Institutional investors own 85.12% of the company’s stock.
In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $46.98, for a total transaction of $939,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is owned by insiders.
A number of equities research analysts have recently issued reports on LEN shares. Bank of America set a $74.00 price objective on Lennar and gave the stock a “buy” rating in a report on Thursday, October 11th. JMP Securities set a $56.00 price objective on Lennar and gave the stock a “buy” rating in a report on Friday, October 5th. Credit Suisse Group set a $55.00 price objective on Lennar and gave the stock a “buy” rating in a report on Thursday, October 4th. MKM Partners set a $61.00 price objective on Lennar and gave the stock a “buy” rating in a report on Thursday, October 4th. Finally, Citigroup cut their price target on Lennar from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the stock. Lennar presently has an average rating of “Buy” and a consensus target price of $63.38.
Shares of LEN stock opened at $41.90 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.62 and a quick ratio of 0.72. The company has a market capitalization of $14.19 billion, a P/E ratio of 7.99, a P/E/G ratio of 0.48 and a beta of 1.24. Lennar Co. has a 1 year low of $38.79 and a 1 year high of $72.17.
Lennar (NYSE:LEN) last announced its quarterly earnings data on Wednesday, October 3rd. The construction company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.19 by $0.11. Lennar had a net margin of 6.76% and a return on equity of 12.87%. The business had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.62 billion. During the same period in the previous year, the business earned $1.06 earnings per share. The company’s revenue was up 73.9% on a year-over-year basis. As a group, analysts predict that Lennar Co. will post 4.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 2nd. Shareholders of record on Friday, October 19th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $0.16 annualized dividend and a yield of 0.38%. Lennar’s dividend payout ratio is currently 4.20%.
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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