Rational Advisors LLC Invests $1.44 Million in Lennar Corporation (LEN) Stock
Rational Advisors LLC acquired a new position in Lennar Corporation (NYSE:LEN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 27,243 shares of the construction company’s stock, valued at approximately $1,438,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. D.A. Davidson & CO. raised its position in shares of Lennar Corporation by 8.9% in the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after acquiring an additional 155 shares in the last quarter. Commonwealth Bank of Australia raised its position in shares of Lennar Corporation by 32.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after acquiring an additional 530 shares in the last quarter. Washington Trust Bank raised its position in shares of Lennar Corporation by 47.6% in the 2nd quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock worth $131,000 after acquiring an additional 794 shares in the last quarter. QS Investors LLC raised its position in shares of Lennar Corporation by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after acquiring an additional 25 shares in the last quarter. Finally, MUFG Americas Holdings Corp raised its position in shares of Lennar Corporation by 7.3% in the 2nd quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after acquiring an additional 220 shares in the last quarter. Institutional investors and hedge funds own 78.26% of the company’s stock.
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LEN has been the subject of several research reports. Argus reissued a “buy” rating and issued a $60.00 target price (up previously from $57.00) on shares of Lennar Corporation in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $62.00 target price on shares of Lennar Corporation in a research report on Thursday, July 27th. Zacks Investment Research lowered Lennar Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub lowered Lennar Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $64.00 target price on shares of Lennar Corporation in a research report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $57.93.
In other news, CFO Bruce E. Gross sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $56.48, for a total value of $282,400.00. Following the transaction, the chief financial officer now directly owns 376,043 shares in the company, valued at approximately $21,238,908.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 12.18% of the company’s stock.
Lennar Corporation (NYSE LEN) traded up $0.28 during mid-day trading on Monday, hitting $59.18. The stock had a trading volume of 1,213,120 shares, compared to its average volume of 2,385,746. The stock has a market cap of $13,730.00, a P/E ratio of 15.10, a P/E/G ratio of 1.43 and a beta of 1.30. Lennar Corporation has a 52-week low of $41.83 and a 52-week high of $59.32. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72.
Lennar Corporation (NYSE:LEN) last released its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the business posted $1.01 EPS. sell-side analysts expect that Lennar Corporation will post 4.04 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Stockholders of record on Thursday, October 19th were paid a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, October 18th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.27%. Lennar Corporation’s dividend payout ratio (DPR) is currently 4.61%.
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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