Lennar Corporation (NYSE:LEN) Shares Bought by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can increased its position in Lennar Corporation (NYSE:LEN) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 135,892 shares of the construction company’s stock after buying an additional 8,206 shares during the period. Great West Life Assurance Co. Can’s holdings in Lennar Corporation were worth $7,238,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC increased its stake in Lennar Corporation by 14.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 2,114 shares of the construction company’s stock worth $108,000 after buying an additional 259 shares during the last quarter. Washington Trust Bank increased its position in Lennar Corporation by 47.6% in the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock worth $131,000 after buying an additional 794 shares in the last quarter. MUFG Americas Holdings Corp increased its position in Lennar Corporation by 8.9% in the first quarter. MUFG Americas Holdings Corp now owns 3,030 shares of the construction company’s stock worth $155,000 after buying an additional 248 shares in the last quarter. Advisory Services Network LLC acquired a new position in Lennar Corporation during the first quarter worth $182,000. Finally, Fisher Asset Management LLC acquired a new position in Lennar Corporation during the first quarter worth $206,000. Institutional investors own 82.08% of the company’s stock.
Shares of Lennar Corporation (NYSE LEN) opened at 53.25 on Friday. The firm has a market capitalization of $12.49 billion, a price-to-earnings ratio of 15.57 and a beta of 1.26. Lennar Corporation has a 52-week low of $39.68 and a 52-week high of $55.75. The firm has a 50-day moving average of $53.25 and a 200 day moving average of $51.02.
Lennar Corporation (NYSE:LEN) last posted its quarterly earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. Analysts predict that Lennar Corporation will post $3.82 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 27th. Shareholders of record on Thursday, July 13th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.30%. The ex-dividend date was Tuesday, July 11th. Lennar Corporation’s dividend payout ratio (DPR) is currently 4.68%.
LEN has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Tuesday, May 23rd. Deutsche Bank AG restated a “hold” rating and set a $53.00 price target (up previously from $52.00) on shares of Lennar Corporation in a report on Thursday, June 22nd. Credit Suisse Group initiated coverage on shares of Lennar Corporation in a report on Thursday, June 22nd. They set a “neutral” rating and a $55.00 price target on the stock. Royal Bank Of Canada raised their price target on shares of Lennar Corporation from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, June 21st. Finally, Mizuho restated a “buy” rating on shares of Lennar Corporation in a report on Tuesday, July 11th. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.53.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $53.17, for a total value of $1,063,400.00. Following the transaction, the chief operating officer now directly owns 139,433 shares of the company’s stock, valued at $7,413,652.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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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