Lennar Corporation (LEN) Shares Sold by Asset Management Advisors LLC

Asset Management Advisors LLC lessened its stake in Lennar Corporation (NYSE:LEN) by 4.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,507 shares of the construction company’s stock after selling 4,223 shares during the quarter. Lennar Corporation accounts for about 3.9% of Asset Management Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. Asset Management Advisors LLC’s holdings in Lennar Corporation were worth $4,304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in LEN. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Lennar Corporation by 5.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,340 shares of the construction company’s stock valued at $325,000 after buying an additional 330 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Lennar Corporation by 6.4% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 28,123 shares of the construction company’s stock worth $1,440,000 after purchasing an additional 1,700 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Lennar Corporation by 19.1% in the first quarter. Nomura Asset Management Co. Ltd. now owns 26,042 shares of the construction company’s stock worth $1,333,000 after purchasing an additional 4,182 shares in the last quarter. DnB Asset Management AS lifted its position in shares of Lennar Corporation by 2.8% in the second quarter. DnB Asset Management AS now owns 22,400 shares of the construction company’s stock worth $1,194,000 after purchasing an additional 600 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. lifted its position in shares of Lennar Corporation by 89.8% in the second quarter. Independent Portfolio Consultants Inc. now owns 57,374 shares of the construction company’s stock worth $3,059,000 after purchasing an additional 27,149 shares in the last quarter. Institutional investors own 80.26% of the company’s stock.

In other Lennar Corporation news, CFO Bruce E. Gross sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $56.48, for a total value of $282,400.00. Following the completion of the sale, the chief financial officer now owns 376,043 shares in the company, valued at $21,238,908.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.18% of the company’s stock.

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Lennar Corporation (NYSE:LEN) last announced its quarterly earnings data on Tuesday, October 3rd. The construction company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 2nd. Shareholders of record on Thursday, October 19th will be given a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, October 18th. This represents a $0.16 annualized dividend and a yield of 0.29%. Lennar Corporation’s payout ratio is currently 4.61%.

A number of analysts have recently commented on LEN shares. BTIG Research boosted their price objective on shares of Lennar Corporation from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Argus reaffirmed 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. BidaskClub lowered shares of Lennar Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Zacks Investment Research raised shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Wednesday, July 12th. Finally, UBS AG started coverage on shares of Lennar Corporation in a research report on Wednesday, October 25th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $57.93.

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

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