Keybank National Association OH cut its position in shares of Lennar Corporation (NYSE:LEN) by 7.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,551 shares of the company’s stock after selling 2,484 shares during the period. Keybank National Association OH’s holdings in Lennar Corporation were worth $1,666,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of LEN. Bank of Montreal Can raised its stake in Lennar Corporation by 1.0% during the second quarter. Bank of Montreal Can now owns 155,980 shares of the company’s stock worth $8,316,000 after purchasing an additional 1,534 shares during the period. Gateway Investment Advisers LLC increased its position in shares of Lennar Corporation by 0.4% during the second quarter. Gateway Investment Advisers LLC now owns 12,604 shares of the company’s stock valued at $672,000 after acquiring an additional 48 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Lennar Corporation by 0.7% during the second quarter. Fisher Asset Management LLC now owns 4,052 shares of the company’s stock valued at $216,000 after acquiring an additional 27 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Lennar Corporation by 0.7% during the second quarter. State of Alaska Department of Revenue now owns 6,157 shares of the company’s stock valued at $328,000 after acquiring an additional 40 shares during the last quarter. Finally, National Pension Service increased its position in shares of Lennar Corporation by 9.8% during the second quarter. National Pension Service now owns 235,689 shares of the company’s stock valued at $12,421,000 after acquiring an additional 21,075 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on LEN. Argus reiterated a “buy” rating and set a $60.00 price target (up from $57.00) on shares of Lennar Corporation in a research report on Tuesday, July 25th. Mizuho cut shares of Lennar Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the company from $59.00 to $53.00 in a research report on Tuesday, September 19th. MKM Partners reiterated a “neutral” rating on shares of Lennar Corporation in a research report on Tuesday, September 5th. BTIG Research lifted their price target on shares of Lennar Corporation from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Finally, JMP Securities upgraded shares of Lennar Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Lennar Corporation has a consensus rating of “Hold” and an average target price of C$57.93.
Lennar Corporation (NYSE LEN) opened at C$58.71 on Friday. Lennar Corporation has a 12 month low of C$40.94 and a 12 month high of C$59.32. The company has a quick ratio of 0.59, a current ratio of 7.76 and a debt-to-equity ratio of 0.72. The stock has a market cap of $13,812.11, a P/E ratio of 15.05, a P/E/G 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 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 net margin of 6.65% and a return on equity of 12.37%. The company had revenue of C$3.26 billion during the quarter, compared to the consensus estimate of C$3.25 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. equities research analysts forecast that Lennar Corporation will post 4.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Investors of record on Thursday, October 19th were paid a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, October 18th. This represents a $0.16 dividend on an annualized basis and a yield of 0.27%. Lennar Corporation’s dividend payout ratio is currently 4.61%.
In related news, CFO Bruce E. Gross sold 5,000 shares of Lennar Corporation stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of C$56.48, for a total value of C$282,400.00. Following the completion of the transaction, the chief financial officer now owns 376,043 shares in the company, valued at C$21,238,908.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.18% of the stock is owned by insiders.
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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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