Sadoff Investment Management LLC increased its stake in Lennar Corporation (NYSE:LEN) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 495,604 shares of the construction company’s stock after buying an additional 12,950 shares during the period. Lennar Corporation accounts for 2.5% of Sadoff Investment Management LLC’s portfolio, making the stock its 21st largest position. Sadoff Investment Management LLC’s holdings in Lennar Corporation were worth $26,426,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. SeaBridge Investment Advisors LLC increased its stake in shares of Lennar Corporation by 14.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 2,114 shares of the construction company’s stock valued at $108,000 after buying an additional 259 shares during the period. Washington Trust Bank increased its stake in shares of Lennar Corporation by 47.6% in the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock valued at $131,000 after buying an additional 794 shares during the period. MUFG Americas Holdings Corp increased its stake in shares of Lennar Corporation by 8.9% in the first quarter. MUFG Americas Holdings Corp now owns 3,030 shares of the construction company’s stock valued at $155,000 after buying an additional 248 shares during the period. Advisory Services Network LLC bought a new stake in shares of Lennar Corporation during the first quarter valued at approximately $182,000. Finally, Fisher Asset Management LLC bought a new stake in shares of Lennar Corporation during the first quarter valued at approximately $206,000. 82.48% of the stock is owned by institutional investors.
Shares of Lennar Corporation (NYSE:LEN) opened at 52.75 on Thursday. The stock’s 50 day moving average price is $53.03 and its 200-day moving average price is $50.29. The company has a market capitalization of $12.37 billion, a PE ratio of 15.42 and a beta of 1.26. Lennar Corporation has a 1-year low of $39.68 and a 1-year high of $55.75.
Lennar Corporation (NYSE:LEN) last released its earnings results on Tuesday, June 20th. The construction company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The company’s quarterly revenue was up 18.8% on a year-over-year basis. On average, equities analysts predict that Lennar Corporation will post $3.82 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 27th. Stockholders of record on Thursday, July 13th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, July 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.30%. Lennar Corporation’s dividend payout ratio is currently 4.68%.
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Several research firms recently issued reports on LEN. Royal Bank Of Canada lifted their price target on shares of Lennar Corporation from $61.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Barclays PLC downgraded shares of Lennar Corporation from an “overweight” rating to an “equal weight” rating and set a $56.00 price target for the company. in a research report on Tuesday, July 11th. Mizuho reissued a “buy” rating on shares of Lennar Corporation in a research report on Tuesday, July 11th. Argus reissued a “buy” rating and issued a $60.00 price target (up previously from $57.00) on shares of Lennar Corporation in a research report on Tuesday. Finally, Zacks Investment Research raised shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Wednesday, July 12th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $56.12.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $53.17, for a total value of $1,063,400.00. Following the sale, the chief operating officer now directly owns 139,433 shares of the company’s stock, valued at $7,413,652.61. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 12.18% of the company’s stock.
Lennar Corporation 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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