Lennar Corporation (LEN) Stake Lowered by Sterling Capital Management LLC

Sterling Capital Management LLC decreased its position in Lennar Corporation (NYSE:LEN) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,069,301 shares of the construction company’s stock after selling 3,523 shares during the quarter. Sterling Capital Management LLC owned approximately 0.53% of Lennar Corporation worth $57,015,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in LEN. D.A. Davidson & CO. grew its stake in shares of Lennar Corporation by 8.9% in the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after acquiring an additional 155 shares during the last quarter. Commonwealth Bank of Australia grew its stake in shares of Lennar Corporation by 32.4% in the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after acquiring an additional 530 shares during the last quarter. Washington Trust Bank grew 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 worth $131,000 after acquiring an additional 794 shares during the last quarter. QS Investors LLC grew its stake in shares of Lennar Corporation by 1.0% in the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after acquiring an additional 25 shares during the last quarter. Finally, MUFG Americas Holdings Corp grew its stake in shares of Lennar Corporation by 7.3% in the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after acquiring an additional 220 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “Lennar Corporation (LEN) Stake Lowered by Sterling Capital Management LLC” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://ledgergazette.com/2017/10/12/lennar-corporation-len-stake-lowered-by-sterling-capital-management-llc.html.

Several equities research analysts have recently issued reports on LEN shares. Royal Bank Of Canada raised their price objective on shares of Lennar Corporation from $61.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. BidaskClub upgraded shares of Lennar Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Friday, September 15th. MKM Partners upgraded shares of Lennar Corporation from a “neutral” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Wednesday, October 4th. Finally, Credit Suisse Group started coverage on shares of Lennar Corporation in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $55.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Lennar Corporation currently has an average rating of “Buy” and a consensus target price of $57.63.

In other news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $56.48, for a total transaction of $282,400.00. Following the sale, the chief financial officer now directly owns 376,043 shares of the company’s stock, valued at approximately $21,238,908.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 12.18% of the company’s stock.

Shares of Lennar Corporation (NYSE:LEN) traded down 0.32% during midday trading on Thursday, hitting $56.40. 305,374 shares of the stock traded hands. Lennar Corporation has a 1-year low of $39.68 and a 1-year high of $56.78. The stock has a 50 day moving average of $52.21 and a 200 day moving average of $52.22. The company has a market capitalization of $13.23 billion, a P/E ratio of 16.49 and a beta of 1.22.

Lennar Corporation (NYSE:LEN) last released its earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.05. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. Lennar Corporation had a return on equity of 12.52% and a net margin of 6.65%. Lennar Corporation’s quarterly revenue was up 15.1% on a year-over-year basis.

Several other large investors have also recently added to or reduced their stakes in LEN. D.A. Davidson & CO. grew its stake in shares of Lennar Corporation by 8.9% in the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after acquiring an additional 155 shares during the last quarter. Commonwealth Bank of Australia grew its stake in shares of Lennar Corporation by 32.4% in the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after acquiring an additional 530 shares during the last quarter. Washington Trust Bank grew 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 worth $131,000 after acquiring an additional 794 shares during the last quarter. QS Investors LLC grew its stake in shares of Lennar Corporation by 1.0% in the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after acquiring an additional 25 shares during the last quarter. Finally, MUFG Americas Holdings Corp grew its stake in shares of Lennar Corporation by 7.3% in the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after acquiring an additional 220 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “Lennar Corporation (LEN) Stake Lowered by Sterling Capital Management LLC” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://ledgergazette.com/2017/10/12/lennar-corporation-len-stake-lowered-by-sterling-capital-management-llc.html.

Several equities research analysts have recently issued reports on LEN shares. Royal Bank Of Canada raised their price objective on shares of Lennar Corporation from $61.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. BidaskClub upgraded shares of Lennar Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Friday, September 15th. MKM Partners upgraded shares of Lennar Corporation from a “neutral” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Wednesday, October 4th. Finally, Credit Suisse Group started coverage on shares of Lennar Corporation in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $55.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Lennar Corporation currently has an average rating of “Buy” and a consensus target price of $57.63.

In other news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $56.48, for a total transaction of $282,400.00. Following the sale, the chief financial officer now directly owns 376,043 shares of the company’s stock, valued at approximately $21,238,908.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 12.18% of the company’s stock.

Shares of Lennar Corporation (NYSE:LEN) traded down 0.32% during midday trading on Thursday, hitting $56.40. 305,374 shares of the stock traded hands. Lennar Corporation has a 1-year low of $39.68 and a 1-year high of $56.78. The stock has a 50 day moving average of $52.21 and a 200 day moving average of $52.22. The company has a market capitalization of $13.23 billion, a P/E ratio of 16.49 and a beta of 1.22.

Lennar Corporation (NYSE:LEN) last released its earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.05. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. Lennar Corporation had a return on equity of 12.52% and a net margin of 6.65%. Lennar Corporation’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 EPS. Equities research analysts predict that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 2nd. Stockholders of record on Thursday, October 19th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Wednesday, October 18th. Lennar Corporation’s dividend payout ratio (DPR) is currently 4.61%.

Lennar Corporation 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.

Institutional Ownership by Quarter for Lennar Corporation (NYSE:LEN)

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