Palisade Capital Management LLC NJ Has $213,000 Position in Lennar Corporation (NYSE:LEN)
Palisade Capital Management LLC NJ maintained its stake in shares of Lennar Corporation (NYSE:LEN) during the second quarter, Holdings Channel reports. The firm owned 4,000 shares of the construction company’s stock at the end of the second quarter. Palisade Capital Management LLC NJ’s holdings in Lennar Corporation were worth $213,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. SeaBridge Investment Advisors LLC raised 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 valued at $108,000 after buying an additional 259 shares during the period. Washington Trust Bank raised its stake in Lennar Corporation by 47.6% in the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock valued at $131,000 after buying an additional 794 shares during the period. MUFG Americas Holdings Corp raised its stake 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 valued at $155,000 after buying an additional 248 shares during the period. Advisory Services Network LLC purchased a new stake in Lennar Corporation during the first quarter valued at about $182,000. Finally, Fisher Asset Management LLC purchased a new stake in Lennar Corporation during the first quarter valued at about $206,000. 82.08% of the stock is currently owned by institutional investors and hedge funds.
Lennar Corporation (NYSE LEN) opened at 54.16 on Thursday. Lennar Corporation has a one year low of $39.68 and a one year high of $55.75. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 15.83 and a beta of 1.26. The company has a 50-day moving average of $53.22 and a 200-day moving average of $50.93.
Lennar Corporation (NYSE:LEN) last announced its quarterly earnings data on Tuesday, June 20th. The construction company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.13. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The business’s revenue was up 18.8% on a year-over-year basis. Equities research analysts expect that Lennar Corporation will post $3.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Shareholders of record on Thursday, July 13th were given a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, July 11th. This represents a $0.16 annualized dividend and a yield of 0.30%. Lennar Corporation’s payout ratio is currently 4.68%.
Several equities analysts have commented on LEN shares. Zacks Investment Research upgraded shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Tuesday, May 23rd. Deutsche Bank AG reiterated a “hold” rating and issued a $53.00 price objective (up from $52.00) on shares of Lennar Corporation in a report on Thursday, June 22nd. Credit Suisse Group started coverage on shares of Lennar Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating and a $55.00 price objective on the stock. Royal Bank Of Canada upped their price objective 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 reiterated a “buy” rating on shares of Lennar Corporation in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus 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 business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $53.17, for a total value of $1,063,400.00. Following the completion of the sale, the chief operating officer now owns 139,433 shares in the company, valued at $7,413,652.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.18% of the company’s stock.
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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