Eagle Asset Management Inc. decreased its holdings in Lennar Co. (NYSE:LEN) by 39.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 739,778 shares of the construction company’s stock after selling 484,126 shares during the quarter. Eagle Asset Management Inc. owned about 0.23% of Lennar worth $43,602,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Lennar in the 4th quarter worth $103,000. First Personal Financial Services acquired a new stake in shares of Lennar in the 4th quarter worth $140,000. Independence Bank of Kentucky acquired a new stake in shares of Lennar in the 4th quarter worth $153,000. Dupont Capital Management Corp boosted its position in shares of Lennar by 117.2% in the 1st quarter. Dupont Capital Management Corp now owns 2,791 shares of the construction company’s stock worth $165,000 after purchasing an additional 1,506 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC boosted its position in shares of Lennar by 103.1% in the 1st quarter. Massey Quick Simon & CO. LLC now owns 2,900 shares of the construction company’s stock worth $171,000 after purchasing an additional 1,472 shares in the last quarter. 69.77% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on LEN shares. ValuEngine cut Lennar from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. Mizuho set a $80.00 price objective on Lennar and gave the stock a “buy” rating in a research report on Sunday, April 8th. Credit Suisse Group set a $81.00 target price on Lennar and gave the stock a “buy” rating in a research note on Wednesday, April 4th. Zacks Investment Research lowered Lennar from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Finally, Argus raised their target price on Lennar from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Lennar currently has an average rating of “Buy” and an average price target of $71.40.
In other Lennar news, SVP Jeffrey Joseph Mccall sold 50,888 shares of Lennar stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $53.92, for a total transaction of $2,743,880.96. Following the completion of the transaction, the senior vice president now owns 190,053 shares in the company, valued at approximately $10,247,657.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Sonnenfeld sold 2,095 shares of Lennar stock in a transaction dated Friday, April 6th. The shares were sold at an average price of $62.98, for a total value of $131,943.10. Following the transaction, the director now owns 32,072 shares of the company’s stock, valued at approximately $2,019,894.56. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.
Shares of Lennar opened at $52.03 on Monday, Marketbeat Ratings reports. The firm has a market capitalization of $16.95 billion, a P/E ratio of 13.66, a PEG ratio of 0.58 and a beta of 1.25. Lennar Co. has a 1 year low of $49.52 and a 1 year high of $72.17. The company has a quick ratio of 0.84, a current ratio of 16.40 and a debt-to-equity ratio of 0.79.
Lennar (NYSE:LEN) last released its quarterly earnings data on Wednesday, April 4th. The construction company reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.35. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3.05 billion. Lennar had a return on equity of 11.65% and a net margin of 6.84%. The company’s revenue was up 27.5% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. analysts forecast that Lennar Co. will post 4.9 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 9th. Shareholders of record on Wednesday, April 25th were paid a dividend of $0.04 per share. The ex-dividend date was Tuesday, April 24th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.31%. Lennar’s payout ratio is currently 4.20%.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.
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