Crossmark Global Holdings Inc. acquired a new position in shares of Lennar Corporation (NYSE:LEN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 59,990 shares of the company’s stock, valued at approximately $3,167,000.
A number of other institutional investors and hedge funds also recently modified their holdings of LEN. Aperio Group LLC increased its position in shares of Lennar Corporation by 6.8% during the 3rd quarter. Aperio Group LLC now owns 148,660 shares of the company’s stock valued at $7,849,000 after purchasing an additional 9,482 shares during the last quarter. Terra Nova Asset Management LLC purchased a new stake in Lennar Corporation during the 3rd quarter valued at about $946,000. APG Asset Management N.V. boosted its holdings in Lennar Corporation by 6.6% during the 3rd quarter. APG Asset Management N.V. now owns 273,381 shares of the company’s stock valued at $14,435,000 after acquiring an additional 17,000 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Lennar Corporation by 4.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 25,566 shares of the company’s stock valued at $1,350,000 after acquiring an additional 1,027 shares during the period. Finally, PGGM Investments boosted its holdings in Lennar Corporation by 2.3% during the 3rd quarter. PGGM Investments now owns 128,925 shares of the company’s stock valued at $6,807,000 after acquiring an additional 2,905 shares during the period. 79.83% of the stock is currently owned by institutional investors and hedge funds.
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 C$56.48, for a total transaction of C$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 C$21,238,908.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 12.18% of the company’s stock.
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Several equities research analysts have weighed in on LEN shares. UBS AG started coverage on Lennar Corporation in a report on Wednesday, October 25th. They issued a “buy” rating for the company. Zacks Investment Research upgraded Lennar Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Friday, September 15th. BidaskClub raised Lennar Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. MKM Partners raised Lennar Corporation from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Wednesday, October 4th. Finally, Bank of America Corporation lifted their target price on Lennar Corporation from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of C$57.93.
Shares of Lennar Corporation (LEN) traded down C$0.22 during trading on Monday, reaching C$58.71. 5,263,700 shares of the company were exchanged, compared to its average volume of 2,365,712. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59. Lennar Corporation has a 1 year low of C$40.94 and a 1 year high of C$59.32. The stock has a market cap of $13,730.00, a price-to-earnings ratio of 15.05, a PEG ratio of 1.42 and a beta of 1.30.
Lennar Corporation (NYSE:LEN) last released its earnings results on Tuesday, October 3rd. The company reported C$1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$1.01 by C$0.05. The business had revenue of C$3.26 billion for the quarter, compared to analyst estimates of C$3.25 billion. Lennar Corporation had a net margin of 6.65% and a return on equity of 12.37%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. equities analysts anticipate that Lennar Corporation will post 4.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Shareholders of record on Thursday, October 19th were paid a $0.04 dividend. The ex-dividend date was Wednesday, October 18th. This represents a $0.16 annualized dividend and a dividend yield of 0.27%. Lennar Corporation’s dividend payout ratio (DPR) is 4.61%.
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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