Bp Plc Has $1,280,000 Position in Lennar Corporation (NYSE:LEN)
Bp Plc continued to hold its stake in Lennar Corporation (NYSE:LEN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,000 shares of the construction company’s stock at the end of the second quarter. Bp Plc’s holdings in Lennar Corporation were worth $1,280,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of LEN. Spirit of America Management Corp NY purchased a new stake in Lennar Corporation during the first quarter valued at about $256,000. Korea Investment CORP purchased a new stake in Lennar Corporation during the first quarter valued at about $2,790,000. Xact Kapitalforvaltning AB increased its stake in Lennar Corporation by 24.9% in the first quarter. Xact Kapitalforvaltning AB now owns 17,449 shares of the construction company’s stock valued at $893,000 after buying an additional 3,480 shares in the last quarter. Smead Capital Management Inc. increased its stake in Lennar Corporation by 17.2% in the first quarter. Smead Capital Management Inc. now owns 1,302,102 shares of the construction company’s stock valued at $66,655,000 after buying an additional 191,215 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in Lennar Corporation by 2.5% in the first quarter. Retirement Systems of Alabama now owns 98,219 shares of the construction company’s stock valued at $5,028,000 after buying an additional 2,360 shares in the last quarter. Hedge funds and other institutional investors own 82.08% of the company’s stock.
Lennar Corporation (LEN) opened at 53.25 on Friday. The firm has a market capitalization of $12.49 billion, a PE ratio of 15.57 and a beta of 1.26. The stock’s 50 day moving average price is $53.25 and its 200 day moving average price is $51.02. Lennar Corporation has a 52-week low of $39.68 and a 52-week high of $55.75.
Lennar Corporation (NYSE:LEN) last announced its earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. Analysts expect that Lennar Corporation will post $3.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Thursday, July 13th were given 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 of this dividend was Tuesday, July 11th. Lennar Corporation’s payout ratio is 4.68%.
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Several equities research analysts recently issued reports on LEN shares. Zacks Investment Research upgraded Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Friday, June 16th. Royal Bank Of Canada boosted their price objective on Lennar Corporation from $61.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, July 13th. BidaskClub downgraded Lennar Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Credit Suisse Group started coverage on Lennar Corporation in a report on Thursday, June 22nd. They issued a “neutral” rating and a $55.00 price objective on the stock. Finally, Wedbush reiterated a “neutral” rating and issued a $46.00 price objective on shares of Lennar Corporation in a report on Thursday, June 15th. Ten 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 company’s stock. Lennar Corporation presently has an average rating of “Buy” and an average price target of $56.53.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar Corporation stock in a transaction dated 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 directly owns 139,433 shares of the company’s stock, valued at $7,413,652.61. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.18% of the stock is currently owned by insiders.
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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