Shell Asset Management Co. held its position in Lennar Corporation (NYSE:LEN) during the second quarter, Holdings Channel reports. The fund owned 13,825 shares of the construction company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Lennar Corporation were worth $737,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Macquarie Group Ltd. raised its stake in Lennar Corporation by 8.9% in the fourth quarter. Macquarie Group Ltd. now owns 6,100 shares of the construction company’s stock valued at $262,000 after buying an additional 500 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in Lennar Corporation by 6.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 175,800 shares of the construction company’s stock valued at $8,999,000 after buying an additional 10,958 shares during the period. CENTRAL TRUST Co raised its stake in Lennar Corporation by 8.0% in the first quarter. CENTRAL TRUST Co now owns 6,478 shares of the construction company’s stock valued at $332,000 after buying an additional 478 shares during the period. Gulf International Bank UK Ltd raised its stake in Lennar Corporation by 16.4% in the first quarter. Gulf International Bank UK Ltd now owns 63,286 shares of the construction company’s stock valued at $3,239,000 after buying an additional 8,930 shares during the period. Finally, National Pension Service raised its stake in Lennar Corporation by 27,239.4% in the first quarter. National Pension Service now owns 214,614 shares of the construction company’s stock valued at $11,010,000 after buying an additional 213,829 shares during the period. Hedge funds and other institutional investors own 82.08% of the company’s stock.

Lennar Corporation (NYSE:LEN) opened at 53.16 on Friday. The stock has a 50 day moving average of $53.22 and a 200-day moving average of $50.95. The company has a market cap of $12.47 billion, a price-to-earnings ratio of 15.54 and a beta of 1.26. Lennar Corporation has a one year low of $39.68 and a one year high of $55.75.

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

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

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LEN has been the topic of several research reports. Zacks Investment Research raised shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Tuesday, May 23rd. Deutsche Bank AG reissued a “hold” rating and issued a $53.00 price target (up previously from $52.00) on shares of Lennar Corporation in a research report on Thursday, June 22nd. Credit Suisse Group initiated coverage on shares of Lennar Corporation in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $55.00 price target on the stock. Royal Bank Of Canada boosted their price target on shares of Lennar Corporation from $60.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, June 21st. Finally, Mizuho reissued a “buy” rating on shares of Lennar Corporation in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $56.53.

In other news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar Corporation stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the sale, the chief operating officer now owns 139,433 shares in the company, valued at $7,413,652.61. The transaction was disclosed in a document filed with the SEC, which is available at this link. 12.18% of the stock is owned by insiders.

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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