American Assets Investment Management LLC continued to hold its stake in Lennar Corporation (NYSE:LEN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,745 shares of the construction company’s stock at the end of the second quarter. American Assets Investment Management LLC’s holdings in Lennar Corporation were worth $2,546,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. raised its stake in Lennar Corporation by 527.2% in the first quarter. Alliancebernstein L.P. now owns 2,094,587 shares of the construction company’s stock worth $107,222,000 after buying an additional 1,760,608 shares in the last quarter. Capital Growth Management LP raised its stake in shares of Lennar Corporation by 55.5% in the first quarter. Capital Growth Management LP now owns 2,130,000 shares of the construction company’s stock worth $109,035,000 after buying an additional 760,000 shares during the period. Oakmont Corp raised its stake in shares of Lennar Corporation by 1,293.5% in the first quarter. Oakmont Corp now owns 790,830 shares of the construction company’s stock worth $40,483,000 after buying an additional 734,080 shares during the period. Smead Capital Management Inc. raised its stake in shares of Lennar Corporation by 43.3% in the second quarter. Smead Capital Management Inc. now owns 1,866,187 shares of the construction company’s stock worth $99,505,000 after buying an additional 564,085 shares during the period. Finally, Nomura Holdings Inc. raised its stake in shares of Lennar Corporation by 1,223.5% in the first quarter. Nomura Holdings Inc. now owns 597,709 shares of the construction company’s stock worth $30,603,000 after buying an additional 552,547 shares during the period. Institutional investors own 81.81% of the company’s stock.

Shares of Lennar Corporation (NYSE LEN) opened at 54.09 on Wednesday. Lennar Corporation has a 1-year low of $39.68 and a 1-year high of $55.75. The firm’s 50-day moving average is $53.34 and its 200 day moving average is $51.19. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 15.81 and a beta of 1.26.

Lennar Corporation (NYSE:LEN) last issued its earnings results on Tuesday, June 20th. The construction company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.90 billion. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. Lennar Corporation’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. Equities analysts expect that Lennar Corporation will post $3.82 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Thursday, July 13th were paid a $0.04 dividend. The ex-dividend date was Tuesday, July 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.30%. Lennar Corporation’s payout ratio is 4.68%.

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A number of brokerages recently issued reports on LEN. BidaskClub lowered shares of Lennar Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Mizuho began coverage on shares of Lennar Corporation in a research note on Tuesday, May 16th. They issued a “buy” rating and a $59.00 price target for the company. Zacks Investment Research upgraded shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Friday, April 21st. MKM Partners restated a “neutral” rating and issued a $58.00 price target (up previously from $55.00) on shares of Lennar Corporation in a research note on Friday, June 23rd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $62.00 price target on shares of Lennar Corporation in a research note on Thursday, July 27th. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $56.53.

In other Lennar Corporation news, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the completion of the transaction, the chief operating officer now directly owns 139,433 shares in the company, valued at $7,413,652.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.18% of the company’s stock.

About Lennar Corporation

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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