Oregon Public Employees Retirement Fund increased its stake in Lennar Corporation (NYSE:LEN) by 12.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,400 shares of the construction company’s stock after buying an additional 2,400 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Lennar Corporation were worth $1,141,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in LEN. Bank of Montreal Can increased its position in shares of Lennar Corporation by 11.1% in the first quarter. Bank of Montreal Can now owns 154,446 shares of the construction company’s stock valued at $7,906,000 after buying an additional 15,373 shares during the period. Highland Capital Management LLC increased its position in shares of Lennar Corporation by 0.5% in the first quarter. Highland Capital Management LLC now owns 81,149 shares of the construction company’s stock valued at $4,154,000 after buying an additional 440 shares during the period. National Pension Service increased its position in shares of Lennar Corporation by 27,239.4% in the first quarter. National Pension Service now owns 214,614 shares of the construction company’s stock valued at $11,010,000 after buying an additional 213,829 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Lennar Corporation by 16.4% in the first quarter. Gulf International Bank UK Ltd now owns 63,286 shares of the construction company’s stock valued at $3,239,000 after buying an additional 8,930 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services increased its position in shares of Lennar Corporation by 16.6% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 49,969 shares of the construction company’s stock valued at $2,558,000 after buying an additional 7,125 shares during the period. Institutional investors own 82.04% of the company’s stock.
Shares of Lennar Corporation (LEN) remained flat at $53.87 during mid-day trading on Thursday. 431,600 shares of the company’s stock were exchanged. Lennar Corporation has a 12 month low of $39.68 and a 12 month high of $55.75. The company has a market cap of $12.63 billion, a PE ratio of 15.75 and a beta of 1.26. The stock has a 50 day moving average of $53.09 and a 200 day moving average of $50.59.
Lennar Corporation (NYSE:LEN) last released its quarterly earnings data on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the company earned $0.95 earnings per share. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, equities analysts predict that Lennar Corporation will post $3.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Shareholders of record on Thursday, July 13th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Tuesday, July 11th. Lennar Corporation’s payout ratio is 4.68%.
Several research analysts have recently issued reports on the stock. 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 report on Tuesday, July 11th. Mizuho reiterated a “buy” rating on shares of Lennar Corporation in a report on Tuesday, July 11th. Wedbush reiterated a “neutral” rating and set a $46.00 price target on shares of Lennar Corporation in a report on Thursday, June 15th. Bank of America Corporation reiterated a “buy” rating and set a $63.00 price target (up from $60.00) on shares of Lennar Corporation in a report on Wednesday, June 21st. Finally, Royal Bank Of Canada upped their price target on shares of Lennar Corporation from $60.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Lennar Corporation currently has a consensus rating of “Buy” and a consensus price target of $56.53.
In other Lennar Corporation news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $53.17, for a total value of $1,063,400.00. Following the transaction, the chief operating officer now owns 139,433 shares in the company, valued at $7,413,652.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.18% of the stock is currently owned by insiders.
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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