Shufro Rose & Co. LLC lowered its holdings in Lennar Co. (NYSE:LEN) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 285,569 shares of the construction company’s stock after selling 520 shares during the period. Lennar makes up about 1.3% of Shufro Rose & Co. LLC’s portfolio, making the stock its 26th largest holding. Shufro Rose & Co. LLC’s holdings in Lennar were worth $13,839,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Ellis Investment Partners LLC bought a new stake in Lennar in the 1st quarter valued at about $35,000. Penserra Capital Management LLC bought a new stake in Lennar in the 1st quarter valued at about $57,000. Meeder Asset Management Inc. bought a new stake in Lennar in the 1st quarter valued at about $65,000. Hilton Capital Management LLC bought a new stake in Lennar in the 1st quarter valued at about $109,000. Finally, Valley National Advisers Inc. boosted its holdings in Lennar by 117.9% in the 1st quarter. Valley National Advisers Inc. now owns 2,745 shares of the construction company’s stock valued at $135,000 after purchasing an additional 1,485 shares during the period. 85.65% of the stock is owned by hedge funds and other institutional investors.
LEN has been the subject of a number of recent analyst reports. Susquehanna Bancshares reaffirmed a “neutral” rating and set a $57.00 price target (down previously from $64.00) on shares of Lennar in a report on Wednesday, April 17th. Zacks Investment Research downgraded shares of Lennar from a “hold” rating to a “sell” rating and set a $53.00 price target for the company. in a report on Thursday, May 30th. Bank of America cut their price target on shares of Lennar from $57.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. JPMorgan Chase & Co. cut their price target on shares of Lennar from $57.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, June 26th. Finally, BTIG Research set a $65.00 price target on shares of Lennar and gave the stock a “buy” rating in a report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.89.
In related news, President Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $49.04, for a total transaction of $980,800.00. Following the completion of the transaction, the president now directly owns 346,946 shares in the company, valued at approximately $17,014,231.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.43% of the stock is owned by corporate insiders.
LEN stock traded down $0.52 during trading on Friday, reaching $47.98. 2,461,741 shares of the company were exchanged, compared to its average volume of 3,243,204. The business’s 50-day moving average is $48.77. The company has a market capitalization of $15.62 billion, a P/E ratio of 7.56, a price-to-earnings-growth ratio of 1.06 and a beta of 1.14. Lennar Co. has a twelve month low of $37.29 and a twelve month high of $54.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 13.93 and a quick ratio of 0.79.
Lennar (NYSE:LEN) last released its quarterly earnings data on Tuesday, June 25th. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.17. The business had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Lennar had a net margin of 8.86% and a return on equity of 12.03%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.58 EPS. As a group, research analysts forecast that Lennar Co. will post 5.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Wednesday, July 10th. Lennar’s dividend payout ratio is 2.52%.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's 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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