Allen Investment Management LLC lowered its holdings in Lennar Corporation (NYSE:LEN) by 24.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,795 shares of the construction company’s stock after selling 1,856 shares during the quarter. Allen Investment Management LLC’s holdings in Lennar Corporation were worth $306,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Alps Advisors Inc. raised its position in Lennar Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,280 shares of the construction company’s stock valued at $495,000 after purchasing an additional 24 shares during the period. QS Investors LLC raised its position in Lennar Corporation by 1.0% in the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after purchasing an additional 25 shares during the period. Fisher Asset Management LLC raised its position in Lennar Corporation by 0.7% in the second quarter. Fisher Asset Management LLC now owns 4,052 shares of the construction company’s stock valued at $216,000 after purchasing an additional 27 shares during the period. Riverhead Capital Management LLC raised its position in Lennar Corporation by 0.4% in the second quarter. Riverhead Capital Management LLC now owns 8,326 shares of the construction company’s stock valued at $444,000 after purchasing an additional 36 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Lennar Corporation by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 6,157 shares of the construction company’s stock valued at $328,000 after purchasing an additional 40 shares during the period. Institutional investors own 79.83% of the company’s stock.
Shares of Lennar Corporation (NYSE LEN) traded down $0.54 during midday trading on Thursday, reaching $58.02. The company’s stock had a trading volume of 2,462,900 shares, compared to its average volume of 2,377,196. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72. Lennar Corporation has a 12 month low of $41.64 and a 12 month high of $59.32. The stock has a market cap of $13,776.83, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 1.42 and a beta of 1.31.
Lennar Corporation (NYSE:LEN) last issued its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the business earned $1.01 EPS. Lennar Corporation’s revenue was up 15.1% on a year-over-year basis. analysts anticipate that Lennar Corporation will post 4.05 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Shareholders of record on Thursday, October 19th were issued a dividend of $0.04 per share. The ex-dividend date was Wednesday, October 18th. This represents a $0.16 annualized dividend and a yield of 0.28%. Lennar Corporation’s dividend payout ratio (DPR) is 4.61%.
A number of research firms have commented on LEN. BidaskClub upgraded Lennar Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Royal Bank Of Canada restated a “buy” rating and issued a $64.00 target price on shares of Lennar Corporation in a research report on Monday, September 25th. KeyCorp restated a “hold” rating on shares of Lennar Corporation in a research report on Tuesday, September 26th. Bank of America Corporation lifted their target price on Lennar Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Finally, Zacks Investment Research downgraded Lennar Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $57.93.
In other news, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $56.48, for a total transaction of $282,400.00. Following the completion of the transaction, 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 available at this hyperlink. 12.18% of the stock is owned by corporate insiders.
About Lennar Corporation
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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