3,996 Shares in Lennar Corporation (NYSE:LEN) Acquired by Stratos Wealth Partners LTD.
Stratos Wealth Partners LTD. acquired a new position in shares of Lennar Corporation (NYSE:LEN) during the second quarter, Holdings Channel reports. The firm acquired 3,996 shares of the construction company’s stock, valued at approximately $213,000.
Other hedge funds have also recently bought and sold shares of the company. Daiwa Securities Group Inc. raised its stake in Lennar Corporation by 9.7% in the second quarter. Daiwa Securities Group Inc. now owns 6,200 shares of the construction company’s stock worth $331,000 after buying an additional 550 shares in the last quarter. CIBC Asset Management Inc raised its stake in Lennar Corporation by 2.1% in the second quarter. CIBC Asset Management Inc now owns 21,019 shares of the construction company’s stock worth $1,121,000 after buying an additional 423 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Lennar Corporation by 6.4% in the second quarter. Great West Life Assurance Co. Can now owns 135,892 shares of the construction company’s stock worth $7,238,000 after buying an additional 8,206 shares in the last quarter. Smead Capital Management Inc. raised its stake in Lennar Corporation by 43.3% in the second quarter. Smead Capital Management Inc. now owns 1,866,187 shares of the construction company’s stock worth $99,505,000 after buying an additional 564,085 shares in the last quarter. Finally, NGAM Advisors L.P. raised its stake in Lennar Corporation by 8.5% in the second quarter. NGAM Advisors L.P. now owns 83,809 shares of the construction company’s stock worth $4,469,000 after buying an additional 6,555 shares in the last quarter. 82.08% of the stock is owned by institutional investors.
Lennar Corporation (NYSE LEN) opened at 53.25 on Friday. The company’s 50-day moving average is $53.25 and its 200 day moving average is $51.02. Lennar Corporation has a 12 month low of $39.68 and a 12 month high of $55.75. The company has a market cap of $12.49 billion, a price-to-earnings ratio of 15.57 and a beta of 1.26.
Lennar Corporation (NYSE:LEN) last announced its quarterly earnings data on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue was up 18.8% compared to the same quarter last year. Equities analysts forecast that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Thursday, July 13th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Tuesday, July 11th. Lennar Corporation’s dividend payout ratio is currently 4.68%.
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A number of analysts have commented on the stock. BidaskClub lowered shares of Lennar Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Lennar Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $62.00 price objective on shares of Lennar Corporation in a research note on Thursday, July 27th. Argus reissued a “buy” rating and issued a $60.00 price target (up from $57.00) on shares of Lennar Corporation in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada increased their price target on shares of Lennar Corporation from $61.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Lennar Corporation currently has a consensus rating of “Buy” and a consensus price target of $56.53.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of the company’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 transaction of $1,063,400.00. Following the sale, the chief operating officer now owns 139,433 shares in the company, valued at approximately $7,413,652.61. The sale was disclosed in a document filed with the SEC, which is available at 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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