Municipal Employees Retirement System of Michigan raised its position in Lennar Corporation (NYSE:LEN) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,340 shares of the construction company’s stock after buying an additional 330 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Lennar Corporation were worth $325,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. SeaBridge Investment Advisors LLC raised its stake in Lennar Corporation by 14.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 2,114 shares of the construction company’s stock worth $108,000 after buying an additional 259 shares in the last quarter. MUFG Americas Holdings Corp raised its stake in Lennar Corporation by 8.9% in the first quarter. MUFG Americas Holdings Corp now owns 3,030 shares of the construction company’s stock worth $155,000 after buying an additional 248 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Lennar Corporation during the first quarter worth approximately $182,000. Fisher Asset Management LLC purchased a new stake in Lennar Corporation during the first quarter worth approximately $206,000. Finally, Pacer Advisors Inc. raised its stake in Lennar Corporation by 27.0% in the first quarter. Pacer Advisors Inc. now owns 4,038 shares of the construction company’s stock worth $207,000 after buying an additional 859 shares in the last quarter. Hedge funds and other institutional investors own 82.48% of the company’s stock.
Shares of Lennar Corporation (NYSE LEN) traded down 1.13% during mid-day trading on Friday, reaching $52.43. 2,060,862 shares of the company traded hands. The firm has a 50 day moving average of $53.06 and a 200-day moving average of $50.37. The stock has a market capitalization of $12.29 billion, a PE ratio of 15.33 and a beta of 1.26. Lennar Corporation has a 52 week low of $39.68 and a 52 week high of $55.75.
Lennar Corporation (NYSE:LEN) last posted its earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.13. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, equities research analysts expect that Lennar Corporation will post $3.82 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 27th. Shareholders of record on Thursday, July 13th were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, July 11th. This represents a $0.16 annualized dividend and a yield of 0.31%. Lennar Corporation’s dividend payout ratio (DPR) is presently 4.68%.
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A number of equities research analysts recently commented on the stock. Barclays PLC lowered shares of Lennar Corporation from an “overweight” rating to an “equal weight” rating and set a $56.00 price target for the company. in a report on Tuesday, July 11th. Mizuho reissued a “buy” rating on shares of Lennar Corporation in a research report on Tuesday, July 11th. Wedbush reissued a “neutral” rating and set a $46.00 price objective on shares of Lennar Corporation in a research report on Thursday, June 15th. Bank of America Corporation reissued a “buy” rating and set a $63.00 price objective (up from $60.00) on shares of Lennar Corporation in a research report on Wednesday, June 21st. Finally, Royal Bank Of Canada boosted their price objective on shares of Lennar Corporation from $60.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, June 21st. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Lennar Corporation presently has an average rating of “Buy” and an average target price of $56.53.
In other Lennar Corporation news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar Corporation stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $53.17, for a total value of $1,063,400.00. Following the transaction, the chief operating officer now owns 139,433 shares in the company, valued at $7,413,652.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.18% of the stock is owned by 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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