Ellis Investment Partners LLC bought a new stake in shares of Lennar Co. (NYSE:LEN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 35,040 shares of the construction company’s stock, valued at approximately $35,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its position in Lennar by 5,332.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,346,825 shares of the construction company’s stock valued at $111,000 after purchasing an additional 4,266,802 shares in the last quarter. Abrams Bison Investments LLC bought a new stake in Lennar during the fourth quarter valued at about $115,281,000. Sound Shore Management Inc. CT bought a new stake in Lennar during the fourth quarter valued at about $105,318,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Lennar by 0.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,588,417 shares of the construction company’s stock valued at $101,336,000 after purchasing an additional 12,453 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its position in Lennar by 2.6% during the fourth quarter. Nomura Holdings Inc. now owns 608,995 shares of the construction company’s stock valued at $23,826,000 after purchasing an additional 15,678 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.
LEN stock traded down $0.53 during trading on Wednesday, hitting $51.76. 1,922,300 shares of the company traded hands, compared to its average volume of 3,608,435. The company has a current ratio of 14.77, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The stock has a market cap of $16.82 billion, a P/E ratio of 8.15, a P/E/G ratio of 0.70 and a beta of 1.33. Lennar Co. has a 1 year low of $37.29 and a 1 year high of $55.77.
Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, March 27th. The construction company reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Lennar had a net margin of 8.39% and a return on equity of 13.04%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.11 earnings per share. On average, research analysts predict that Lennar Co. will post 5.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lennar’s dividend payout ratio (DPR) is presently 2.52%.
A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. initiated coverage on Lennar in a research report on Monday, April 8th. They set a “focus list” rating on the stock. Raymond James downgraded Lennar from a “strong-buy” rating to an “outperform” rating and set a $48.91 price target for the company. in a report on Monday, April 1st. They noted that the move was a valuation call. Barclays set a $54.00 price target on Lennar and gave the stock a “buy” rating in a report on Thursday, March 28th. Bank of America set a $57.00 price target on Lennar and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, KeyCorp raised their price target on Lennar from $50.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Lennar presently has an average rating of “Buy” and an average price target of $57.27.
In other news, President Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $48.94, for a total value of $978,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.43% of the stock is owned by insiders.
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Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.
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