Canada Pension Plan Investment Board Buys 38,200 Shares of Lennar Corporation (LEN)
Canada Pension Plan Investment Board boosted its stake in shares of Lennar Corporation (NYSE:LEN) by 46.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,600 shares of the construction company’s stock after purchasing an additional 38,200 shares during the quarter. Canada Pension Plan Investment Board owned about 0.06% of Lennar Corporation worth $6,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Northern Capital Management LLC bought a new stake in Lennar Corporation during the third quarter valued at about $496,000. Victory Capital Management Inc. boosted its position in Lennar Corporation by 22.4% during the third quarter. Victory Capital Management Inc. now owns 40,962 shares of the construction company’s stock valued at $2,163,000 after purchasing an additional 7,489 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Lennar Corporation during the third quarter valued at about $3,167,000. Aperio Group LLC boosted its position in Lennar Corporation by 6.8% during the third quarter. Aperio Group LLC now owns 148,660 shares of the construction company’s stock valued at $7,849,000 after purchasing an additional 9,482 shares in the last quarter. Finally, Terra Nova Asset Management LLC bought a new stake in Lennar Corporation during the third quarter valued at about $946,000. 79.83% of the stock is currently owned by institutional investors.
In related news, CFO Bruce E. Gross sold 5,000 shares of Lennar Corporation stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $56.48, for a total transaction of $282,400.00. Following the completion of the transaction, the chief financial officer now directly owns 376,043 shares in the company, valued at $21,238,908.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.18% of the stock is currently owned by company insiders.
A number of equities research analysts have commented on the company. BidaskClub upgraded Lennar Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $64.00 price target on shares of Lennar Corporation in a research note on Monday, September 25th. KeyCorp reiterated a “hold” rating on shares of Lennar Corporation in a research note on Tuesday, September 26th. Bank of America Corporation increased their price target on Lennar Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Finally, Zacks Investment Research cut Lennar Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $57.93.
Lennar Corporation (LEN) opened at $58.22 on Tuesday. 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 firm has a market capitalization of $13,812.11, a P/E ratio of 15.05, a P/E/G ratio of 1.42 and a beta of 1.31. Lennar Corporation has a 12-month low of $41.20 and a 12-month high of $59.32.
Lennar Corporation (NYSE:LEN) last announced its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.05. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%. Lennar Corporation’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $1.01 earnings per share. equities analysts predict that Lennar Corporation will post 4.05 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Investors 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 0.27%. The ex-dividend date was Wednesday, October 18th. Lennar Corporation’s dividend payout ratio is currently 4.61%.
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Lennar Corporation Company 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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