Hexavest Inc. Purchases 118,070 Shares of Lennar Co. (LEN)
Hexavest Inc. boosted its stake in Lennar Co. (NYSE:LEN) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,428,273 shares of the construction company’s stock after buying an additional 118,070 shares during the period. Lennar accounts for approximately 1.5% of Hexavest Inc.’s holdings, making the stock its 10th largest position. Hexavest Inc. owned about 1.04% of Lennar worth $124,303,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. SeaBridge Investment Advisors LLC raised its position in Lennar by 14.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 2,114 shares of the construction company’s stock valued at $108,000 after buying an additional 259 shares during the period. Orinda Asset Management LLC bought a new position in Lennar during the third quarter valued at $170,000. Mn Services Vermogensbeheer B.V. raised its position in Lennar by 5.1% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 4,701 shares of the construction company’s stock valued at $199,000 after buying an additional 227 shares during the period. Cleararc Capital Inc. bought a new position in Lennar during the fourth quarter valued at $205,000. Finally, First Interstate Bank raised its position in Lennar by 13,836.8% in the fourth quarter. First Interstate Bank now owns 5,296 shares of the construction company’s stock valued at $227,000 after buying an additional 5,258 shares during the period. Institutional investors and hedge funds own 79.04% of the company’s stock.
Lennar Co. (NYSE:LEN) traded down 1.35% during trading on Thursday, hitting $51.89. The stock had a trading volume of 2,832,012 shares. Lennar Co. has a 12-month low of $39.68 and a 12-month high of $53.79. The stock has a 50 day moving average price of $51.41 and a 200 day moving average price of $45.60. The company has a market capitalization of $12.17 billion, a price-to-earnings ratio of 15.01 and a beta of 1.27.
Lennar (NYSE:LEN) last announced its earnings results on Tuesday, March 21st. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. Lennar had a net margin of 8.33% and a return on equity of 13.80%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue was up 17.2% compared to the same quarter last year. Equities research analysts forecast that Lennar Co. will post $3.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 16th. Shareholders of record on Tuesday, May 2nd will be given a dividend of $0.04 per share. The ex-dividend date is Friday, April 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.31%. Lennar’s payout ratio is presently 4.07%.
Several equities analysts have weighed in on LEN shares. Barclays PLC raised their target price on Lennar from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, March 7th. Zacks Investment Research upgraded Lennar from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 17th. Deutsche Bank AG cut their target price on Lennar from $52.00 to $49.00 and set a “hold” rating on the stock in a report on Thursday, March 23rd. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Lennar in a report on Thursday, April 6th. Finally, BTIG Research started coverage on Lennar in a report on Tuesday, February 7th. They set a “buy” rating and a $56.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $53.78.
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.
Want to see what other hedge funds are holding LEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lennar Co. (NYSE:LEN).
Receive News & Ratings for Lennar Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.