Gluskin Sheff & Assoc Inc. acquired a new position in shares of Lennar Corp. (NYSE:LEN) during the second quarter, Holdings Channel reports. The firm acquired 16,620 shares of the company’s stock, valued at approximately $766,000.
Several other institutional investors also recently added to or reduced their stakes in LEN. Quadrature Capital Ltd purchased a new stake in Lennar Corp. during the first quarter valued at about $247,000. Optimum Investment Advisors boosted its stake in Lennar Corp. by 8.2% in the first quarter. Optimum Investment Advisors now owns 5,300 shares of the company’s stock valued at $256,000 after buying an additional 400 shares during the last quarter. Atria Investments LLC purchased a new stake in Lennar Corp. during the second quarter valued at about $294,000. Trust Co. of Oklahoma purchased a new stake in Lennar Corp. during the second quarter valued at about $300,000. Finally, ING Groep NV purchased a new stake in Lennar Corp. during the first quarter valued at about $326,000. Institutional investors and hedge funds own 86.39% of the company’s stock.
Lennar Corp. (NYSE:LEN) traded up 0.69% during trading on Thursday, reaching $42.13. 1,747,199 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $45.10 and a 200 day moving average price of $46.21. The stock has a market capitalization of $9.23 billion, a P/E ratio of 11.08 and a beta of 1.41. Lennar Corp. has a 1-year low of $37.14 and a 1-year high of $52.50.
Lennar Corp. (NYSE:LEN) last issued its earnings results on Tuesday, September 20th. The company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.12. Lennar Corp. had a net margin of 8.37% and a return on equity of 14.34%. The business had revenue of $2.83 billion for the quarter. During the same period in the prior year, the business posted $0.96 EPS. The business’s revenue was up 13.7% on a year-over-year basis. Equities research analysts expect that Lennar Corp. will post $3.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Wednesday, October 5th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Monday, October 3rd. Lennar Corp.’s dividend payout ratio is presently 4.21%.
Several equities research analysts recently issued reports on the company. Royal Bank Of Canada lowered their price objective on Lennar Corp. from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, September 21st. MKM Partners reiterated a “neutral” rating and issued a $52.00 price objective on shares of Lennar Corp. in a report on Wednesday, June 15th. Credit Suisse Group AG reiterated a “hold” rating on shares of Lennar Corp. in a report on Tuesday, June 28th. FBR & Co reiterated an “outperform” rating and issued a $60.00 price objective on shares of Lennar Corp. in a report on Wednesday, September 21st. Finally, RBC Capital Markets reiterated a “buy” rating and issued a $55.00 price objective (down from $64.00) on shares of Lennar Corp. in a report on Wednesday, September 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.03.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $42.01, for a total value of $840,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 12.18% of the stock is currently owned by insiders.
Lennar Corp. Company Profile
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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