Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in Lennar Co. (NYSE:LEN) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,715 shares of the construction company’s stock after selling 218 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Lennar were worth $933,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. United Capital Management of KS Inc. increased its position in shares of Lennar by 3.6% in the third quarter. United Capital Management of KS Inc. now owns 9,229 shares of the construction company’s stock worth $548,000 after acquiring an additional 322 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Lennar by 10.9% during the third quarter. Pacer Advisors Inc. now owns 30,672 shares of the construction company’s stock worth $1,713,000 after purchasing an additional 3,006 shares during the period. We Are One Seven LLC acquired a new stake in shares of Lennar during the third quarter worth approximately $352,000. First American Trust FSB boosted its holdings in shares of Lennar by 2.6% during the third quarter. First American Trust FSB now owns 72,018 shares of the construction company’s stock worth $4,022,000 after purchasing an additional 1,817 shares during the period. Finally, Butensky & Cohen Financial Security Inc. boosted its holdings in shares of Lennar by 13.6% during the third quarter. Butensky & Cohen Financial Security Inc. now owns 43,025 shares of the construction company’s stock worth $2,403,000 after purchasing an additional 5,155 shares during the period. 83.76% of the stock is currently owned by institutional investors and hedge funds.
NYSE LEN opened at $61.71 on Monday. The company has a quick ratio of 0.79, a current ratio of 14.19 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $19.39 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 1.24 and a beta of 1.10. The company has a 50 day moving average price of $55.41 and a two-hundred day moving average price of $51.67. Lennar Co. has a 12-month low of $37.29 and a 12-month high of $61.75.
Lennar (NYSE:LEN) last posted its earnings results on Wednesday, October 2nd. The construction company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.27. The firm had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Lennar had a net margin of 9.06% and a return on equity of 12.10%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.61 earnings per share. As a group, equities analysts anticipate that Lennar Co. will post 5.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Thursday, October 17th. Lennar’s dividend payout ratio (DPR) is presently 2.52%.
In other news, Director Irving Bolotin sold 5,000 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $58.90, for a total value of $294,500.00. Following the completion of the sale, the director now directly owns 31,692 shares in the company, valued at $1,866,658.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David M. Collins sold 15,000 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $59.50, for a total transaction of $892,500.00. Following the completion of the sale, the insider now owns 126,631 shares of the company’s stock, valued at $7,534,544.50. The disclosure for this sale can be found here. Insiders sold 51,126 shares of company stock valued at $2,954,819 over the last quarter. Corporate insiders own 8.43% of the company’s stock.
Several research firms recently commented on LEN. JMP Securities raised their price target on shares of Lennar from $58.00 to $65.00 and gave the stock a “market outperform” rating in a report on Thursday, October 3rd. ValuEngine cut shares of Lennar from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. BTIG Research raised their price target on shares of Lennar from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. SunTrust Banks began coverage on shares of Lennar in a report on Monday, August 12th. They set a “hold” rating and a $47.00 price target for the company. Finally, Buckingham Research raised their price target on shares of Lennar from $60.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. Lennar presently has an average rating of “Buy” and an average price target of $60.00.
Lennar Company Profile
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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