Blue Sky Asset Management LLC Takes Position in Lennar Corporation (LEN)

Blue Sky Asset Management LLC acquired a new position in shares of Lennar Corporation (NYSE:LEN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,520 shares of the construction company’s stock, valued at approximately $934,000.

Other institutional investors have also bought and sold shares of the company. SeaBridge Investment Advisors LLC boosted its position 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 during the last quarter. Washington Trust Bank boosted its stake in shares of Lennar Corporation by 47.6% in the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock valued at $131,000 after buying an additional 794 shares in the last quarter. MUFG Americas Holdings Corp boosted its stake in shares of Lennar Corporation by 8.9% in the first quarter. MUFG Americas Holdings Corp now owns 3,030 shares of the construction company’s stock valued at $155,000 after buying an additional 248 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Lennar Corporation during the first quarter valued at $182,000. Finally, Fisher Asset Management LLC purchased a new stake in shares of Lennar Corporation during the first quarter valued at $206,000. Institutional investors own 81.81% of the company’s stock.

Shares of Lennar Corporation (NYSE:LEN) traded down 1.89% on Friday, reaching $51.88. The company had a trading volume of 1,758,110 shares. The company has a 50 day moving average of $53.38 and a 200-day moving average of $51.27. The company has a market capitalization of $12.17 billion, a P/E ratio of 15.17 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 announced its quarterly earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.13. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.90 billion. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. Lennar Corporation’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 EPS. Analysts predict that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 27th. Shareholders of record on Thursday, July 13th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Tuesday, July 11th. Lennar Corporation’s dividend payout ratio (DPR) is 4.68%.

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Several equities research analysts have weighed in on the company. BidaskClub upgraded Lennar Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Zacks Investment Research cut Lennar Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $62.00 target price on shares of Lennar Corporation in a report on Thursday, July 27th. Argus reiterated a “buy” rating and issued a $60.00 target price (up from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada upped their target price on Lennar Corporation from $61.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, July 13th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target 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 transaction of $1,063,400.00. Following the completion of the sale, the chief operating officer now directly owns 139,433 shares of the company’s stock, valued at approximately $7,413,652.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.18% of the stock is owned by 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.

Institutional Ownership by Quarter for Lennar Corporation (NYSE:LEN)

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