Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its position in shares of Lennar Corporation (NYSE:LEN) by 23.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,460 shares of the company’s stock after selling 9,556 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Lennar Corporation were worth $1,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in shares of Lennar Corporation by 5.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,516,323 shares of the company’s stock worth $400,771,000 after acquiring an additional 386,110 shares in the last quarter. Greenhaven Associates Inc. raised its holdings in shares of Lennar Corporation by 0.9% during the 2nd quarter. Greenhaven Associates Inc. now owns 5,420,516 shares of the company’s stock worth $289,022,000 after acquiring an additional 46,200 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Lennar Corporation by 25.0% during the 2nd quarter. Principal Financial Group Inc. now owns 3,129,708 shares of the company’s stock worth $166,876,000 after acquiring an additional 625,329 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Lennar Corporation by 9.6% during the 2nd quarter. Alliancebernstein L.P. now owns 2,295,966 shares of the company’s stock worth $122,421,000 after acquiring an additional 201,379 shares in the last quarter. Finally, Smead Capital Management Inc. raised its holdings in shares of Lennar Corporation by 43.3% during the 2nd quarter. Smead Capital Management Inc. now owns 1,866,187 shares of the company’s stock worth $99,505,000 after acquiring an additional 564,085 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.
LEN has been the topic of several recent research reports. Argus reaffirmed a “buy” rating and set a $60.00 price objective (up from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $62.00 price objective on shares of Lennar Corporation in a report on Thursday, July 27th. Zacks Investment Research cut Lennar Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub cut Lennar Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $64.00 price objective on shares of Lennar Corporation in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Lennar Corporation has an average rating of “Hold” and an average price target of C$57.93.
Lennar Corporation (NYSE LEN) opened at C$58.71 on Monday. Lennar Corporation has a 12-month low of C$40.94 and a 12-month high of C$59.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76. The stock has a market capitalization 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 posted its quarterly earnings results on Tuesday, October 3rd. The company reported C$1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.01 by C$0.05. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%. The business had revenue of C$3.26 billion for the quarter, compared to the consensus estimate of C$3.25 billion. During the same quarter in the prior year, the company earned $1.01 EPS. The business’s revenue was up 15.1% compared to the same quarter last year. research analysts forecast that Lennar Corporation will post 4.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Stockholders of record on Thursday, October 19th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Wednesday, October 18th. Lennar Corporation’s payout ratio is 4.61%.
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 C$56.48, for a total transaction of C$282,400.00. Following the transaction, the chief financial officer now 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 Securities & Exchange Commission, which is available through this link. 12.18% of the stock is currently owned by corporate insiders.
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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