25,000 Shares in Lennar Corporation (LEN) Acquired by Zweig DiMenna Associates LLC
Zweig DiMenna Associates LLC acquired a new stake in shares of Lennar Corporation (NYSE:LEN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 25,000 shares of the company’s stock, valued at approximately $1,320,000.
Other large investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in shares of Lennar Corporation by 8.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the company’s stock valued at $101,000 after purchasing an additional 155 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Lennar Corporation by 32.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,168 shares of the company’s stock valued at $114,000 after purchasing an additional 530 shares in the last quarter. Washington Trust Bank lifted its holdings in shares of Lennar Corporation by 47.6% during the 2nd quarter. Washington Trust Bank now owns 2,462 shares of the company’s stock valued at $131,000 after purchasing an additional 794 shares in the last quarter. QS Investors LLC lifted its stake in Lennar Corporation by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,541 shares of the company’s stock valued at $135,000 after acquiring an additional 25 shares in the last quarter. Finally, MUFG Americas Holdings Corp lifted its stake in Lennar Corporation by 7.3% in the 2nd quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the company’s stock valued at $173,000 after acquiring an additional 220 shares in the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.
In related news, CFO Bruce E. Gross sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of C$56.48, for a total transaction of C$282,400.00. Following the transaction, the chief financial officer now directly owns 376,043 shares of the company’s stock, valued at approximately C$21,238,908.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.18% of the stock is currently owned by insiders.
Lennar Corporation (NYSE:LEN) traded down C$0.22 during mid-day trading on Monday, hitting C$58.71. The company had a trading volume of 5,263,700 shares, compared to its average volume of 2,365,712. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59. The firm has a market cap of $13,730.00, a price-to-earnings ratio of 15.05, a PEG ratio of 1.42 and a beta of 1.30. Lennar Corporation has a 1-year low of C$40.94 and a 1-year high of C$59.32.
Lennar Corporation (NYSE:LEN) last posted its earnings results on Tuesday, October 3rd. The company reported C$1.06 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.01 by C$0.05. The business had revenue of C$3.26 billion for the quarter, compared to analyst estimates of C$3.25 billion. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. research analysts predict that Lennar Corporation will post 4.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 2nd. Investors of record on Thursday, October 19th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Wednesday, October 18th. Lennar Corporation’s payout ratio is presently 4.61%.
LEN has been the topic of several research reports. UBS AG initiated coverage on Lennar Corporation in a research note on Wednesday, October 25th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded Lennar Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Friday, September 15th. BidaskClub upgraded Lennar Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. MKM Partners upgraded Lennar Corporation from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, October 4th. Finally, Bank of America Corporation boosted their target price on Lennar Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of C$57.93.
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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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