Perpetual Ltd Buys New Position in Lennar Corporation (LEN)

Perpetual Ltd bought a new position in shares of Lennar Corporation (NYSE:LEN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 43,918 shares of the construction company’s stock, valued at approximately $2,342,000.

A number of other hedge funds have also bought and sold shares of LEN. Stifel Financial Corp purchased a new stake in Lennar Corporation during the first quarter worth approximately $550,000. AXA purchased a new stake in Lennar Corporation during the first quarter worth approximately $358,000. Municipal Employees Retirement System of Michigan lifted its stake in Lennar Corporation by 5.5% during the first quarter. Municipal Employees Retirement System of Michigan now owns 6,340 shares of the construction company’s stock worth $325,000 after purchasing an additional 330 shares during the last quarter. United Services Automobile Association lifted its stake in Lennar Corporation by 2.0% during the first quarter. United Services Automobile Association now owns 63,633 shares of the construction company’s stock worth $3,257,000 after purchasing an additional 1,233 shares during the last quarter. Finally, Global X Management Co. LLC lifted its stake in Lennar Corporation by 40.4% during the first quarter. Global X Management Co. LLC now owns 4,250 shares of the construction company’s stock worth $218,000 after purchasing an additional 1,223 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Corporation (NYSE LEN) traded up 0.18% during midday trading on Wednesday, hitting $56.03. The stock had a trading volume of 629,216 shares. The firm has a market cap of $13.14 billion, a PE ratio of 16.38 and a beta of 1.22. The stock has a 50-day moving average price of $52.50 and a 200 day moving average price of $52.30. Lennar Corporation has a one year low of $39.68 and a one year high of $56.78.

Lennar Corporation (NYSE:LEN) last announced its quarterly 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 business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%. The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. On average, analysts predict that Lennar Corporation will post $3.82 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 2nd. Shareholders of record on Thursday, October 19th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.29%. The ex-dividend date is Wednesday, October 18th. Lennar Corporation’s payout ratio is currently 4.61%.

In other Lennar Corporation news, CFO Bruce E. Gross sold 5,000 shares of Lennar Corporation 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 owns 376,043 shares of the company’s stock, valued at approximately $21,238,908.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.18% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: “Perpetual Ltd Buys New Position in Lennar Corporation (LEN)” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/18/perpetual-ltd-buys-new-position-in-lennar-corporation-len.html.

Several equities research analysts recently weighed in on the company. MKM Partners restated a “neutral” rating and set a $58.00 target price (up previously from $55.00) on shares of Lennar Corporation in a research note on Friday, June 23rd. Mizuho cut Lennar Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $59.00 to $53.00 in a research note on Tuesday, September 19th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $62.00 price objective on shares of Lennar Corporation in a research note on Thursday, July 27th. Bank of America Corporation boosted their price objective on Lennar Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Finally, Credit Suisse Group assumed coverage on Lennar Corporation in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Lennar Corp

A number of other hedge funds have also bought and sold shares of LEN. Stifel Financial Corp purchased a new stake in Lennar Corporation during the first quarter worth approximately $550,000. AXA purchased a new stake in Lennar Corporation during the first quarter worth approximately $358,000. Municipal Employees Retirement System of Michigan lifted its stake in Lennar Corporation by 5.5% during the first quarter. Municipal Employees Retirement System of Michigan now owns 6,340 shares of the construction company’s stock worth $325,000 after purchasing an additional 330 shares during the last quarter. United Services Automobile Association lifted its stake in Lennar Corporation by 2.0% during the first quarter. United Services Automobile Association now owns 63,633 shares of the construction company’s stock worth $3,257,000 after purchasing an additional 1,233 shares during the last quarter. Finally, Global X Management Co. LLC lifted its stake in Lennar Corporation by 40.4% during the first quarter. Global X Management Co. LLC now owns 4,250 shares of the construction company’s stock worth $218,000 after purchasing an additional 1,223 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Corporation (NYSE LEN) traded up 0.18% during midday trading on Wednesday, hitting $56.03. The stock had a trading volume of 629,216 shares. The firm has a market cap of $13.14 billion, a PE ratio of 16.38 and a beta of 1.22. The stock has a 50-day moving average price of $52.50 and a 200 day moving average price of $52.30. Lennar Corporation has a one year low of $39.68 and a one year high of $56.78.

Lennar Corporation (NYSE:LEN) last announced its quarterly 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 business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%. The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. On average, analysts predict that Lennar Corporation will post $3.82 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 2nd. Shareholders of record on Thursday, October 19th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.29%. The ex-dividend date is Wednesday, October 18th. Lennar Corporation’s payout ratio is currently 4.61%.

In other Lennar Corporation news, CFO Bruce E. Gross sold 5,000 shares of Lennar Corporation 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 owns 376,043 shares of the company’s stock, valued at approximately $21,238,908.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.18% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: “Perpetual Ltd Buys New Position in Lennar Corporation (LEN)” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/18/perpetual-ltd-buys-new-position-in-lennar-corporation-len.html.

Several equities research analysts recently weighed in on the company. MKM Partners restated a “neutral” rating and set a $58.00 target price (up previously from $55.00) on shares of Lennar Corporation in a research note on Friday, June 23rd. Mizuho cut Lennar Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $59.00 to $53.00 in a research note on Tuesday, September 19th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $62.00 price objective on shares of Lennar Corporation in a research note on Thursday, July 27th. Bank of America Corporation boosted their price objective on Lennar Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Finally, Credit Suisse Group assumed coverage on Lennar Corporation in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Lennar Corporation currently has a consensus rating of “Buy” and an average price target of $57.93.

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.

Want to see what other hedge funds are holding LEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lennar Corporation (NYSE:LEN).

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

Receive News & Ratings for Lennar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply