First National Trust Co. lowered its stake in Lennar Co. (NYSE:LEN) by 32.3% during the first quarter, Holdings Channel reports. The institutional investor owned 10,723 shares of the construction company’s stock after selling 5,127 shares during the period. First National Trust Co.’s holdings in Lennar were worth $549,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC increased its position in shares of Lennar by 162.2% in the third quarter. SG Americas Securities LLC now owns 6,863 shares of the construction company’s stock valued at $291,000 after buying an additional 17,900 shares in the last quarter. Arthur Zaske & Associates LLC acquired a new position in shares of Lennar during the third quarter valued at about $270,000. HGI Capital Management LLC increased its position in shares of Lennar by 127.4% in the third quarter. HGI Capital Management LLC now owns 54,169 shares of the construction company’s stock valued at $2,294,000 after buying an additional 30,347 shares in the last quarter. Smead Capital Management Inc. acquired a new position in shares of Lennar during the third quarter valued at about $21,773,000. Finally, Oakmont Corp increased its position in shares of Lennar by 82.5% in the third quarter. Oakmont Corp now owns 1,113,462 shares of the construction company’s stock valued at $47,144,000 after buying an additional 503,192 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.
Shares of Lennar Co. (NYSE:LEN) traded up 2.05% during mid-day trading on Friday, reaching $52.15. 2,286,337 shares of the company’s stock traded hands. Lennar Co. has a 52 week low of $39.68 and a 52 week high of $53.79. The firm has a market cap of $12.23 billion, a price-to-earnings ratio of 15.09 and a beta of 1.27. The company’s 50 day moving average is $51.00 and its 200-day moving average is $46.97.
Lennar (NYSE:LEN) last posted its earnings results on Tuesday, March 21st. The construction company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.18 billion. Lennar had a net margin of 8.33% and a return on equity of 13.80%. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share. Equities analysts expect that Lennar Co. will post $3.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 16th. Shareholders of record on Tuesday, May 2nd were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, April 28th. This represents a $0.16 annualized dividend and a yield of 0.31%. Lennar’s dividend payout ratio (DPR) is presently 4.07%.
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Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Lennar from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Friday, March 17th. Royal Bank of Canada restated an “outperform” rating and issued a $60.00 target price (up from $53.00) on shares of Lennar in a research report on Monday, March 20th. Mizuho began coverage on Lennar in a research report on Tuesday. They issued a “buy” rating and a $59.00 target price for the company. JPMorgan Chase & Co. upped their target price on Lennar from $44.50 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 22nd. Finally, Deutsche Bank AG cut their target price on Lennar from $52.00 to $49.00 and set a “hold” rating for the company in a research report on Thursday, March 23rd. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $54.13.
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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