Tower Bridge Advisors Raises Holdings in Lennar Corporation (LEN)
Tower Bridge Advisors raised its stake in shares of Lennar Corporation (NYSE:LEN) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 180,188 shares of the company’s stock after buying an additional 3,470 shares during the period. Tower Bridge Advisors owned about 0.08% of Lennar Corporation worth $9,514,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of LEN. D.A. Davidson & CO. boosted its stake 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 buying an additional 155 shares during the period. Commonwealth Bank of Australia boosted its stake 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 buying an additional 530 shares during the period. Washington Trust Bank boosted its stake 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 buying an additional 794 shares during the period. QS Investors LLC boosted its stake in shares of Lennar Corporation by 1.0% during the 2nd quarter. QS Investors LLC now owns 2,541 shares of the company’s stock valued at $135,000 after buying an additional 25 shares during the period. Finally, MUFG Americas Holdings Corp boosted its stake in shares of Lennar Corporation by 7.3% during the 2nd quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the company’s stock valued at $173,000 after buying an additional 220 shares during the period. 79.83% of the stock is owned by institutional investors.
A number of research analysts have recently weighed in on LEN shares. Zacks Investment Research downgraded shares of Lennar Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 18th. MKM Partners restated a “neutral” rating on shares of Lennar Corporation in a report on Tuesday, September 5th. JMP Securities upgraded shares of Lennar Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, November 6th. Wedbush restated a “neutral” rating and set a $54.00 price target on shares of Lennar Corporation in a report on Thursday, September 14th. Finally, Argus restated a “buy” rating and set a $60.00 price target (up previously from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Lennar Corporation has a consensus rating of “Hold” and an average target price of C$57.93.
In other Lennar Corporation news, CFO Bruce E. Gross sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of C$56.48, for a total value of C$282,400.00. Following the transaction, the chief financial officer now directly owns 376,043 shares in the company, valued at C$21,238,908.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. 12.18% of the stock is owned by insiders.
Lennar Corporation (NYSE:LEN) traded down C$0.22 during trading hours on Monday, reaching C$58.71. 5,263,700 shares of the company’s stock were exchanged, compared to its average volume of 2,365,712. The firm has a market capitalization 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 52-week low of C$40.94 and a 52-week high of C$59.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76.
Lennar Corporation (NYSE:LEN) last released its quarterly earnings results on Tuesday, October 3rd. The company reported C$1.06 EPS for the quarter, beating the Zacks’ consensus estimate of C$1.01 by C$0.05. The firm had revenue of C$3.26 billion for the quarter, compared to analyst estimates of C$3.25 billion. Lennar Corporation had a net margin of 6.65% and a return on equity of 12.37%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. analysts expect that Lennar Corporation will post 4.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Shareholders of record on Thursday, October 19th were given a $0.04 dividend. The ex-dividend date was Wednesday, October 18th. This represents a $0.16 dividend on an annualized basis and a yield of 0.27%. Lennar Corporation’s dividend payout ratio (DPR) is presently 4.61%.
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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