United Services Automobile Association Acquires 383,181 Shares of Lennar Co. (LEN)

United Services Automobile Association boosted its holdings in shares of Lennar Co. (NYSE:LEN) by 93.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 795,291 shares of the construction company’s stock after buying an additional 383,181 shares during the quarter. United Services Automobile Association owned 0.24% of Lennar worth $37,132,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LEN. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Lennar by 475.0% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,990 shares of the construction company’s stock worth $157,000 after buying an additional 2,470 shares during the last quarter. Ayalon Holdings Ltd. acquired a new stake in shares of Lennar during the 2nd quarter worth approximately $158,000. Usca Ria LLC acquired a new stake in shares of Lennar during the 2nd quarter worth approximately $203,000. D.A. Davidson & CO. acquired a new stake in shares of Lennar during the 3rd quarter worth approximately $206,000. Finally, Levin Capital Strategies L.P. acquired a new stake in shares of Lennar during the 2nd quarter worth approximately $210,000. 87.14% of the stock is owned by institutional investors.

In related news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction on Monday, October 1st. The shares were sold at an average price of $46.98, for a total value of $939,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.50% of the stock is currently owned by company insiders.

LEN has been the topic of a number of analyst reports. Deutsche Bank raised shares of Lennar from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $58.00 to $51.00 in a research note on Monday, October 22nd. JMP Securities set a $56.00 price objective on shares of Lennar and gave the stock a “buy” rating in a research note on Friday, October 5th. Wedbush raised shares of Lennar from a “neutral” rating to an “outperform” rating and dropped their price objective for the stock from $56.00 to $50.00 in a research note on Monday, October 29th. Royal Bank of Canada set a $63.00 price objective on shares of Lennar and gave the stock a “buy” rating in a research note on Thursday, October 4th. They noted that the move was a valuation call. Finally, TheStreet cut shares of Lennar from a “b-” rating to a “c+” rating in a research note on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $62.63.

Lennar stock opened at $42.73 on Friday. Lennar Co. has a 1 year low of $38.22 and a 1 year high of $72.17. The firm has a market capitalization of $14.11 billion, a P/E ratio of 11.22, a P/E/G ratio of 0.51 and a beta of 1.24. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.72 and a current ratio of 12.62.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, October 3rd. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.11. Lennar had a net margin of 6.76% and a return on equity of 12.87%. The firm had revenue of $5.67 billion for the quarter, compared to analysts’ expectations of $5.62 billion. During the same quarter last year, the company earned $1.06 EPS. The firm’s revenue for the quarter was up 73.9% compared to the same quarter last year. As a group, analysts forecast that Lennar Co. will post 4.92 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 2nd. Investors of record on Friday, October 19th were paid a $0.04 dividend. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $0.16 dividend on an annualized basis and a yield of 0.37%. Lennar’s dividend payout ratio is currently 4.20%.

ILLEGAL ACTIVITY NOTICE: This piece was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.com-unik.info/2018/12/02/united-services-automobile-association-acquires-383181-shares-of-lennar-co-len.html.

About Lennar

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.

Read More: What is Cost of Debt?

Institutional Ownership by Quarter for Lennar (NYSE:LEN)

Receive News & Ratings for Lennar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit