Lennar Co. (LEN) Holdings Lifted by Artemis Investment Management LLP
Artemis Investment Management LLP grew its stake in shares of Lennar Co. (NYSE:LEN) by 119.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,300 shares of the construction company’s stock after acquiring an additional 127,300 shares during the period. Artemis Investment Management LLP owned about 0.07% of Lennar worth $10,941,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of Lennar by 475.0% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,990 shares of the construction company’s stock valued at $157,000 after buying an additional 2,470 shares during the period. Ayalon Holdings Ltd. acquired a new position in shares of Lennar in the 2nd quarter valued at about $158,000. Usca Ria LLC acquired a new position in shares of Lennar in the 2nd quarter valued at about $203,000. Levin Capital Strategies L.P. acquired a new position in shares of Lennar in the 2nd quarter valued at about $210,000. Finally, Dupont Capital Management Corp boosted its holdings in shares of Lennar by 46.5% in the 2nd quarter. Dupont Capital Management Corp now owns 4,089 shares of the construction company’s stock valued at $215,000 after buying an additional 1,298 shares during the period. 87.14% of the stock is owned by institutional investors.
LEN has been the subject of several research reports. Bank of America set a $74.00 price target on shares of Lennar and gave the company a “buy” rating in a report on Thursday, October 11th. JMP Securities set a $56.00 price target on shares of Lennar and gave the company a “buy” rating in a report on Friday, October 5th. Credit Suisse Group set a $55.00 price target on shares of Lennar and gave the company a “buy” rating in a report on Thursday, October 4th. MKM Partners set a $61.00 price target on shares of Lennar and gave the company a “buy” rating in a report on Thursday, October 4th. Finally, Citigroup decreased their price target on shares of Lennar from $65.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, October 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $62.63.
Shares of NYSE:LEN opened at $42.78 on Thursday. The stock has a market capitalization of $13.70 billion, a P/E ratio of 11.23, a PEG ratio of 0.49 and a beta of 1.24. Lennar Co. has a fifty-two week low of $38.22 and a fifty-two week high of $72.17. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.72 and a current ratio of 12.62.
Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, October 3rd. The construction company reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.11. The firm had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.62 billion. Lennar had a net margin of 6.76% and a return on equity of 12.87%. Lennar’s quarterly revenue was up 73.9% compared to the same quarter last year. During the same period last year, the firm posted $1.06 EPS. On average, research analysts expect that Lennar Co. will post 4.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 2nd. Investors of record on Friday, October 19th were given a $0.04 dividend. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $0.16 annualized dividend and a yield of 0.37%. Lennar’s dividend payout ratio is presently 4.20%.
Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.
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