Cannell Peter B & Co. Inc. Has $8.86 Million Position in Lennar Corporation (LEN)
Cannell Peter B & Co. Inc. cut its position in Lennar Corporation (NYSE:LEN) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,851 shares of the construction company’s stock after selling 4,324 shares during the quarter. Cannell Peter B & Co. Inc. owned about 0.07% of Lennar Corporation worth $8,863,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. boosted its position in Lennar Corporation by 8.9% during the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after purchasing an additional 155 shares during the period. Commonwealth Bank of Australia boosted its position in Lennar Corporation by 32.4% during the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after purchasing an additional 530 shares during the period. QS Investors LLC boosted its position in Lennar Corporation by 1.0% during the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after purchasing an additional 25 shares during the period. MUFG Americas Holdings Corp boosted its position in Lennar Corporation by 7.3% during the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after purchasing an additional 220 shares during the period. Finally, Chartist Inc. CA bought a new position in Lennar Corporation during the second quarter worth $200,000. 78.26% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: This report was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this report on another domain, it was illegally stolen and republished in violation of U.S. and international trademark & copyright legislation. The original version of this report can be accessed at https://www.dailypolitical.com/2017/11/22/cannell-peter-b-co-inc-has-8-86-million-position-in-lennar-corporation-len.html.
In other news, CFO Bruce E. Gross sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $56.48, for a total transaction of $282,400.00. Following the sale, the chief financial officer now directly owns 376,043 shares in the company, valued at $21,238,908.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 12.18% of the company’s stock.
Lennar Corporation (NYSE:LEN) traded down $0.07 during trading hours on Wednesday, hitting $60.46. The stock had a trading volume of 1,149,008 shares, compared to its average volume of 2,396,716. The company has a market capitalization of $13,908.57, a PE ratio of 15.16, a P/E/G ratio of 1.44 and a beta of 1.31. 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 has a 52 week low of $41.83 and a 52 week high of $60.86.
Lennar Corporation (NYSE:LEN) last released its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 earnings per share. equities analysts forecast that Lennar Corporation will post 4.04 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Stockholders of record on Thursday, October 19th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Wednesday, October 18th. Lennar Corporation’s dividend payout ratio (DPR) is currently 4.61%.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Lennar Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Friday, September 15th. Royal Bank Of Canada reissued a “buy” rating and set a $64.00 target price on shares of Lennar Corporation in a report on Monday, August 21st. Keefe, Bruyette & Woods reissued a “buy” rating and set a $62.00 target price on shares of Lennar Corporation in a report on Thursday, July 27th. Argus reissued a “buy” rating and set a $60.00 target price (up previously from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. Finally, MKM Partners raised Lennar Corporation from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $57.93.
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.
Want to see what other hedge funds are holding LEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lennar Corporation (NYSE:LEN).
Receive News & Ratings for Lennar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar Corporation and related companies with MarketBeat.com's FREE daily email newsletter.