E Fund Management Co. Ltd. acquired a new position in shares of Lennar Co. (NYSE:LEN) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 482 shares of the construction company’s stock, valued at approximately $49,000.
Other hedge funds also recently made changes to their positions in the company. Harbor Financial Services LLC purchased a new position in shares of Lennar during the 1st quarter worth about $278,000. Jennison Associates LLC purchased a new position in shares of Lennar during the 1st quarter worth about $33,978,000. SG Americas Securities LLC raised its holdings in Lennar by 3,273.5% in the fourth quarter. SG Americas Securities LLC now owns 59,508 shares of the construction company’s stock valued at $4,536,000 after buying an additional 57,744 shares during the period. Elo Mutual Pension Insurance Co raised its holdings in Lennar by 1.7% in the first quarter. Elo Mutual Pension Insurance Co now owns 19,848 shares of the construction company’s stock valued at $2,009,000 after buying an additional 324 shares during the period. Finally, Cetera Investment Advisers purchased a new position in Lennar in the fourth quarter valued at approximately $393,000. Institutional investors and hedge funds own 81.40% of the company’s stock.
In other Lennar news, CFO Diane J. Bessette sold 10,036 shares of the firm’s stock in a transaction on Friday, March 26th. The stock was sold at an average price of $100.85, for a total value of $1,012,130.60. Following the sale, the chief financial officer now directly owns 245,993 shares in the company, valued at $24,808,394.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $100.14, for a total value of $1,001,400.00. Following the completion of the sale, the executive vice president now owns 150,875 shares in the company, valued at $15,108,622.50. The disclosure for this sale can be found here. Insiders sold 30,036 shares of company stock worth $3,038,131 over the last quarter. 8.62% of the stock is currently owned by company insiders.
Lennar (NYSE:LEN) last released its quarterly earnings data on Monday, March 15th. The construction company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.33. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.21 billion. Lennar had a net margin of 13.16% and a return on equity of 14.98%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.27 earnings per share. On average, research analysts predict that Lennar Co. will post 11.1 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 5th. Shareholders of record on Wednesday, April 21st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Tuesday, April 20th. Lennar’s dividend payout ratio is presently 12.99%.
Several research firms recently commented on LEN. Wolfe Research began coverage on shares of Lennar in a report on Tuesday, March 16th. They issued an “outperform” rating on the stock. BTIG Research lifted their price objective on shares of Lennar from $104.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, March 18th. They noted that the move was a valuation call. Barclays lifted their price objective on shares of Lennar from $91.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, March 18th. JMP Securities lifted their price objective on shares of Lennar from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, March 18th. Finally, Zacks Investment Research lowered shares of Lennar from a “buy” rating to a “hold” rating and set a $103.00 price objective on the stock. in a research note on Tuesday, May 18th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Lennar currently has a consensus rating of “Buy” and a consensus price target of $99.00.
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, Financial Services, Multifamily, and Lennar Other 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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