Lennar Corporation (LEN) Shares Sold by Wafra Investment Advisory Group Inc. NY

Wafra Investment Advisory Group Inc. NY lowered its position in shares of Lennar Corporation (NYSE:LEN) by 61.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,408 shares of the construction company’s stock after selling 165,028 shares during the quarter. Wafra Investment Advisory Group Inc. NY owned about 0.05% of Lennar Corporation worth $5,460,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. D.A. Davidson & CO. boosted its position in Lennar Corporation by 8.9% during the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock valued at $101,000 after acquiring an additional 155 shares during the last quarter. Commonwealth Bank of Australia boosted its position in Lennar Corporation by 32.4% during the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock valued at $114,000 after acquiring an additional 530 shares during the last quarter. Washington Trust Bank boosted its position in Lennar Corporation by 47.6% during the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock valued at $131,000 after acquiring an additional 794 shares during the last quarter. QS Investors LLC boosted its position in Lennar Corporation by 1.0% during the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after acquiring an additional 25 shares during the last quarter. Finally, MUFG Americas Holdings Corp boosted its position in Lennar Corporation by 7.3% during the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock valued at $173,000 after acquiring an additional 220 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on LEN. Citigroup Inc. reaffirmed a “neutral” rating and set a $59.00 price target (up previously from $57.00) on shares of Lennar Corporation in a research report on Wednesday, October 4th. MKM Partners upgraded shares of Lennar Corporation from a “neutral” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Wednesday, October 4th. BTIG Research upped their price objective on shares of Lennar Corporation from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Bank of America Corporation upped their price objective on shares of Lennar Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Finally, Mizuho reiterated a “buy” rating on shares of Lennar Corporation in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $57.63.

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Lennar Corporation (NYSE:LEN) traded down 0.28% during midday trading on Tuesday, hitting $56.04. 478,903 shares of the company were exchanged. The firm has a market capitalization of $13.14 billion, a PE ratio of 16.38 and a beta of 1.22. Lennar Corporation has a 1-year low of $39.68 and a 1-year high of $56.78. The stock has a 50 day moving average of $51.95 and a 200 day moving average of $52.15.

Lennar Corporation (NYSE:LEN) last issued its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.05. Lennar Corporation had a net margin of 6.65% and a return on equity of 12.52%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the company posted $1.01 EPS. Lennar Corporation’s revenue was up 15.1% on a year-over-year basis. On average, equities 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 will be paid on Thursday, November 2nd. Investors of record on Thursday, October 19th will be given a dividend of $0.04 per share. The ex-dividend date is Wednesday, October 18th. This represents a $0.16 dividend on an annualized basis and a yield of 0.28%. Lennar Corporation’s dividend payout ratio (DPR) is currently 4.61%.

In related news, CFO Bruce E. Gross sold 5,000 shares of Lennar Corporation stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $56.48, for a total transaction of $282,400.00. Following the completion of the transaction, the chief financial officer now directly owns 376,043 shares of the company’s stock, valued at approximately $21,238,908.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 12.18% of the company’s stock.

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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