Alpha Cubed Investments LLC Acquires Shares of 5,513 Lennar Co. (NYSE:LEN)
Alpha Cubed Investments LLC acquired a new stake in Lennar Co. (NYSE:LEN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,513 shares of the construction company’s stock, valued at approximately $267,000.
Other large investors have also recently modified their holdings of the company. Highland Capital Management LLC grew its position in Lennar by 9.1% in the first quarter. Highland Capital Management LLC now owns 113,617 shares of the construction company’s stock valued at $5,577,000 after acquiring an additional 9,464 shares in the last quarter. Macquarie Group Ltd. grew its position in Lennar by 5,113.8% in the fourth quarter. Macquarie Group Ltd. now owns 241,400 shares of the construction company’s stock valued at $9,451,000 after acquiring an additional 236,770 shares in the last quarter. Tibra Equities Europe Ltd acquired a new stake in Lennar in the first quarter valued at approximately $604,000. State of Wisconsin Investment Board grew its position in Lennar by 64.6% in the first quarter. State of Wisconsin Investment Board now owns 273,325 shares of the construction company’s stock valued at $13,418,000 after acquiring an additional 107,299 shares in the last quarter. Finally, Norinchukin Bank The grew its position in Lennar by 1.3% in the first quarter. Norinchukin Bank The now owns 54,272 shares of the construction company’s stock valued at $2,664,000 after acquiring an additional 682 shares in the last quarter. 85.88% of the stock is owned by institutional investors.
In related news, President Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $49.04, for a total transaction of $980,800.00. Following the sale, the president now directly owns 346,946 shares in the company, valued at $17,014,231.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.43% of the stock is owned by insiders.
Lennar (NYSE:LEN) last posted its earnings results on Tuesday, June 25th. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.17. Lennar had a return on equity of 12.03% and a net margin of 8.86%. The company had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period last year, the business posted $1.58 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Lennar Co. will post 5.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Wednesday, July 10th. Lennar’s dividend payout ratio is currently 2.52%.
LEN has been the subject of a number of recent analyst reports. Bank of America initiated coverage on shares of Guangshen Railway Co. Ltd ADR Class H in a research report on Wednesday, June 26th. They set an “underperform” rating for the company. KeyCorp downgraded shares of WABCO from a “sector weight” rating to a “sector weight” rating in a research report on Thursday, March 28th. Wedbush raised shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 26th. BTIG Research set a $65.00 price target on shares of Lennar and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Zacks Investment Research raised shares of Icon from a “hold” rating to a “buy” rating and set a $157.00 price target for the company in a research report on Thursday, May 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. Lennar has an average rating of “Buy” and a consensus target price of $56.89.
Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's 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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