Tredje AP fonden reduced its position in shares of Lennar Co. (NYSE:LEN) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,240 shares of the construction company’s stock after selling 1,590 shares during the period. Tredje AP fonden’s holdings in Lennar were worth $1,841,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of LEN. Itau Unibanco Holding S.A. purchased a new stake in Lennar during the 4th quarter worth approximately $103,000. First Personal Financial Services purchased a new stake in shares of Lennar in the fourth quarter valued at approximately $140,000. Independence Bank of Kentucky purchased a new stake in shares of Lennar in the fourth quarter valued at approximately $153,000. Dupont Capital Management Corp grew its position in shares of Lennar by 117.2% in the first quarter. Dupont Capital Management Corp now owns 2,791 shares of the construction company’s stock valued at $165,000 after purchasing an additional 1,506 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC grew its position in shares of Lennar by 103.1% in the first quarter. Massey Quick Simon & CO. LLC now owns 2,900 shares of the construction company’s stock valued at $171,000 after purchasing an additional 1,472 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Credit Suisse Group upgraded Lennar from a “neutral” rating to an “outperform” rating and upped their price target for the company from $67.00 to $81.00 in a research report on Monday, January 22nd. Zacks Investment Research upgraded Lennar from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Tuesday, March 13th. Deutsche Bank dropped their price target on Lennar from $68.00 to $65.00 and set a “hold” rating for the company in a research report on Tuesday, April 10th. Evercore ISI upgraded Lennar from an “in-line” rating to an “outperform” rating in a research report on Friday, February 23rd. Finally, ValuEngine lowered Lennar from a “buy” rating to a “hold” rating in a research report on Tuesday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $71.40.
Lennar (NYSE:LEN) last released its quarterly earnings data on Wednesday, April 4th. The construction company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.35. Lennar had a return on equity of 11.65% and a net margin of 6.84%. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was up 27.5% on a year-over-year basis. analysts anticipate that Lennar Co. will post 4.9 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 9th. Investors of record on Wednesday, April 25th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Tuesday, April 24th. Lennar’s dividend payout ratio is presently 4.20%.
In other Lennar news, SVP Jeffrey Joseph Mccall sold 50,888 shares of the company’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $53.92, for a total transaction of $2,743,880.96. Following the transaction, the senior vice president now directly owns 190,053 shares in the company, valued at $10,247,657.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey Sonnenfeld sold 2,095 shares of the company’s stock in a transaction on Friday, April 6th. The stock was sold at an average price of $62.98, for a total value of $131,943.10. Following the transaction, the director now owns 32,072 shares in the company, valued at $2,019,894.56. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.
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