Boston Family Office LLC bought a new stake in shares of Lennar Co. (NYSE:LEN) during the fourth quarter, Holdings Channel reports. The institutional investor bought 3,878 shares of the construction company’s stock, valued at approximately $245,000.
Several other institutional investors also recently added to or reduced their stakes in LEN. Westwood Management Corp IL acquired a new position in shares of Lennar during the 4th quarter valued at $18,238,000. Capital Growth Management LP lifted its position in shares of Lennar by 28.2% during the 3rd quarter. Capital Growth Management LP now owns 1,090,000 shares of the construction company’s stock valued at $57,552,000 after acquiring an additional 240,000 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Lennar during the 4th quarter valued at $13,456,000. PGGM Investments lifted its position in shares of Lennar by 139.8% during the 4th quarter. PGGM Investments now owns 309,200 shares of the construction company’s stock valued at $19,554,000 after acquiring an additional 180,275 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Lennar by 268.3% during the 3rd quarter. Janus Henderson Group PLC now owns 162,638 shares of the construction company’s stock valued at $8,587,000 after acquiring an additional 118,482 shares during the period. Institutional investors own 80.79% of the company’s stock.
In other news, CFO Bruce E. Gross sold 9,000 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $72.00, for a total value of $648,000.00. Following the completion of the sale, the chief financial officer now owns 346,043 shares in the company, valued at approximately $24,915,096. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 371,043 shares of the company’s stock, valued at approximately $22,262,580. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,000 shares of company stock valued at $12,392,050. Company insiders own 12.18% of the company’s stock.
Lennar (NYSE:LEN) last posted its earnings results on Wednesday, January 10th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.21). Lennar had a return on equity of 12.00% and a net margin of 6.41%. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the previous year, the company earned $1.34 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. research analysts expect that Lennar Co. will post 5.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 26th were paid a $0.04 dividend. The ex-dividend date was Thursday, January 25th. This represents a $0.16 annualized dividend and a dividend yield of 0.27%. Lennar’s payout ratio is 4.68%.
Several research analysts have weighed in on LEN shares. Barclays upgraded shares of Lennar from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $68.00 to $72.00 in a report on Wednesday. ValuEngine upgraded shares of Lennar from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Wedbush set a $60.00 price objective on shares of Lennar and gave the stock a “hold” rating in a report on Thursday, January 4th. Credit Suisse Group restated a “neutral” rating and set a $65.00 price objective (up previously from $57.00) on shares of Lennar in a report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $78.00 price objective on shares of Lennar in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $66.07.
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Lennar 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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