Crossmark Global Holdings Inc. purchased a new stake in Lennar Corporation (NYSE:LEN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 59,990 shares of the construction company’s stock, valued at approximately $3,167,000.
A number of other hedge funds have also modified their holdings of the business. Aperio Group LLC boosted its position in Lennar Corporation by 6.8% in the 3rd quarter. Aperio Group LLC now owns 148,660 shares of the construction company’s stock valued at $7,849,000 after buying an additional 9,482 shares during the period. Terra Nova Asset Management LLC purchased a new position in Lennar Corporation in the 3rd quarter valued at approximately $946,000. APG Asset Management N.V. boosted its position in Lennar Corporation by 6.6% in the 3rd quarter. APG Asset Management N.V. now owns 273,381 shares of the construction company’s stock valued at $14,435,000 after buying an additional 17,000 shares during the period. Mutual of America Capital Management LLC raised its holdings in shares of Lennar Corporation by 4.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 25,566 shares of the construction company’s stock valued at $1,350,000 after purchasing an additional 1,027 shares in the last quarter. Finally, PGGM Investments raised its holdings in shares of Lennar Corporation by 2.3% in the 3rd quarter. PGGM Investments now owns 128,925 shares of the construction company’s stock valued at $6,807,000 after purchasing an additional 2,905 shares in the last quarter. 80.26% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on LEN shares. UBS Group AG (USA) started coverage on shares of Lennar Corporation in a report on Wednesday, October 25th. They issued a “buy” rating on the stock. Royal Bank Of Canada raised their price objective on shares of Lennar Corporation from $61.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, July 13th. BidaskClub upgraded shares of Lennar Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Zacks Investment Research upgraded shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Friday, September 15th. Finally, 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. 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 company currently has a consensus rating of “Hold” and a consensus price target of $57.93.
In other Lennar Corporation news, CFO Bruce E. Gross sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $56.48, for a total transaction of $282,400.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.18% of the company’s stock.
Shares of Lennar Corporation (LEN) opened at $54.62 on Friday. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $12.96 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.31.
Lennar Corporation (NYSE:LEN) last issued its quarterly earnings data on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Lennar Corporation had a net margin of 6.65% and a return on equity of 12.37%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period last year, the firm posted $1.01 EPS. Lennar Corporation’s revenue for the quarter was up 15.1% on a year-over-year basis. research analysts expect that Lennar Corporation will post 4.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 2nd. Shareholders of record on Thursday, October 19th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Wednesday, October 18th. Lennar Corporation’s payout ratio is currently 4.61%.
Lennar Corporation 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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