Mizuho Securities USA LLC purchased a new stake in shares of Lennar Corporation (NYSE:LEN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the construction company’s stock, valued at approximately $533,000.
Other hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. boosted its position in shares of Lennar Corporation by 527.2% in the first quarter. Alliancebernstein L.P. now owns 2,094,587 shares of the construction company’s stock valued at $107,222,000 after buying an additional 1,760,608 shares during the period. Capital Growth Management LP boosted its position in shares of Lennar Corporation by 55.5% in the first quarter. Capital Growth Management LP now owns 2,130,000 shares of the construction company’s stock valued at $109,035,000 after buying an additional 760,000 shares during the period. Oakmont Corp boosted its position in shares of Lennar Corporation by 1,293.5% in the first quarter. Oakmont Corp now owns 790,830 shares of the construction company’s stock valued at $40,483,000 after buying an additional 734,080 shares during the period. Nomura Holdings Inc. boosted its position in shares of Lennar Corporation by 1,223.5% in the first quarter. Nomura Holdings Inc. now owns 597,709 shares of the construction company’s stock valued at $30,603,000 after buying an additional 552,547 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in Lennar Corporation by 14.1% in the first quarter. UBS Asset Management Americas Inc. now owns 2,918,880 shares of the construction company’s stock worth $149,417,000 after buying an additional 361,684 shares during the last quarter. Institutional investors and hedge funds own 82.08% of the company’s stock.
Lennar Corporation (NYSE LEN) opened at 54.16 on Thursday. Lennar Corporation has a 1-year low of $39.68 and a 1-year high of $55.75. The firm has a market capitalization of $12.70 billion, a PE ratio of 15.83 and a beta of 1.26. The firm’s 50-day moving average price is $53.22 and its 200-day moving average price is $50.93.
Lennar Corporation (NYSE:LEN) last released its quarterly earnings data on Tuesday, June 20th. The construction company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.90 billion. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period last year, the firm earned $0.95 EPS. On average, equities research analysts predict that Lennar Corporation will post $3.82 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Thursday, July 13th were issued a dividend of $0.04 per share. 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%.
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A number of research firms recently weighed in on LEN. BidaskClub cut Lennar Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research cut Lennar Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $62.00 price target on shares of Lennar Corporation in a report on Thursday, July 27th. Mizuho assumed coverage on Lennar Corporation in a report on Tuesday, May 16th. They set a “buy” rating and a $59.00 target price for the company. Finally, Barclays PLC cut Lennar Corporation from an “overweight” rating to an “equal weight” rating and set a $56.00 target price for the company. in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Lennar Corporation currently has an average rating of “Buy” and a consensus price target of $56.53.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar Corporation stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the completion of the transaction, the chief operating officer now directly owns 139,433 shares of the company’s stock, valued at approximately $7,413,652.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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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