Cubist Systematic Strategies LLC Has $627,000 Stake in Lennar Corporation (LEN)

Cubist Systematic Strategies LLC decreased its holdings in shares of Lennar Corporation (NYSE:LEN) by 52.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,752 shares of the construction company’s stock after selling 12,946 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Lennar Corporation were worth $627,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LEN. Stifel Financial Corp bought a new position in shares of Lennar Corporation during the first quarter valued at approximately $550,000. AXA bought a new position in shares of Lennar Corporation during the first quarter valued at approximately $358,000. Municipal Employees Retirement System of Michigan grew its stake in shares of 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 valued at $325,000 after buying an additional 330 shares during the last quarter. Global X Management Co. LLC grew its stake in shares of 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 valued at $218,000 after buying an additional 1,223 shares during the last quarter. Finally, KCG Holdings Inc. bought a new position in shares of Lennar Corporation during the first quarter valued at approximately $800,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Cubist Systematic Strategies LLC Has $627,000 Stake in Lennar Corporation (LEN)” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this story on another site, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this story can be read at https://ledgergazette.com/2017/10/20/cubist-systematic-strategies-llc-has-627000-stake-in-lennar-corporation-len.html.

Shares of Lennar Corporation (NYSE:LEN) opened at 56.75 on Friday. Lennar Corporation has a 12-month low of $39.68 and a 12-month high of $56.93. The stock has a market cap of $13.31 billion, a price-to-earnings ratio of 16.59 and a beta of 1.22. The firm’s 50-day moving average price is $53.07 and its 200-day moving average price is $52.43.

Lennar Corporation (NYSE:LEN) last posted its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. Lennar Corporation had a net margin of 6.65% and a return on equity of 12.37%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 earnings per share. On average, analysts forecast that Lennar Corporation will post $3.82 EPS for the current fiscal year.

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

LEN has been the topic of a number of analyst reports. Zacks Investment Research cut Lennar Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Deutsche Bank AG reiterated a “hold” rating and issued a $53.00 price target (up previously from $52.00) on shares of Lennar Corporation in a report on Thursday, June 22nd. MKM Partners reiterated a “neutral” rating on shares of Lennar Corporation in a report on Tuesday, September 5th. Credit Suisse Group started coverage on Lennar Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating and a $55.00 price target for the company. Finally, Argus reiterated a “buy” rating and issued a $60.00 price target (up previously from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $57.93.

In other news, CFO Bruce E. Gross sold 5,000 shares of Lennar Corporation stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $56.48, for a total transaction of $282,400.00. Following the completion of 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 filing with the SEC, which is available through the SEC website. 12.18% of the stock is currently own

Several other institutional investors and hedge funds have also added to or reduced their stakes in LEN. Stifel Financial Corp bought a new position in shares of Lennar Corporation during the first quarter valued at approximately $550,000. AXA bought a new position in shares of Lennar Corporation during the first quarter valued at approximately $358,000. Municipal Employees Retirement System of Michigan grew its stake in shares of 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 valued at $325,000 after buying an additional 330 shares during the last quarter. Global X Management Co. LLC grew its stake in shares of 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 valued at $218,000 after buying an additional 1,223 shares during the last quarter. Finally, KCG Holdings Inc. bought a new position in shares of Lennar Corporation during the first quarter valued at approximately $800,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Cubist Systematic Strategies LLC Has $627,000 Stake in Lennar Corporation (LEN)” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this story on another site, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this story can be read at https://ledgergazette.com/2017/10/20/cubist-systematic-strategies-llc-has-627000-stake-in-lennar-corporation-len.html.

Shares of Lennar Corporation (NYSE:LEN) opened at 56.75 on Friday. Lennar Corporation has a 12-month low of $39.68 and a 12-month high of $56.93. The stock has a market cap of $13.31 billion, a price-to-earnings ratio of 16.59 and a beta of 1.22. The firm’s 50-day moving average price is $53.07 and its 200-day moving average price is $52.43.

Lennar Corporation (NYSE:LEN) last posted its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. Lennar Corporation had a net margin of 6.65% and a return on equity of 12.37%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 earnings per share. On average, analysts forecast that Lennar Corporation will post $3.82 EPS for the current fiscal year.

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

LEN has been the topic of a number of analyst reports. Zacks Investment Research cut Lennar Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Deutsche Bank AG reiterated a “hold” rating and issued a $53.00 price target (up previously from $52.00) on shares of Lennar Corporation in a report on Thursday, June 22nd. MKM Partners reiterated a “neutral” rating on shares of Lennar Corporation in a report on Tuesday, September 5th. Credit Suisse Group started coverage on Lennar Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating and a $55.00 price target for the company. Finally, Argus reiterated a “buy” rating and issued a $60.00 price target (up previously from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $57.93.

In other news, CFO Bruce E. Gross sold 5,000 shares of Lennar Corporation stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $56.48, for a total transaction of $282,400.00. Following the completion of 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 filing with the SEC, which is available through the SEC website. 12.18% of the stock is currently owned by insiders.

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.

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

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