Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Lennar Co. (NYSE:LEN) by 33.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,490 shares of the construction company’s stock after acquiring an additional 5,360 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Lennar were worth $1,499,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Nachman Norwood & Parrott Inc acquired a new position in shares of Lennar during the third quarter valued at about $27,000. CI Investments Inc. acquired a new position in shares of Lennar during the third quarter valued at about $27,000. Anderson Fisher LLC acquired a new position in shares of Lennar during the third quarter valued at about $35,000. Liberty One Investment Management LLC acquired a new position in shares of Lennar during the second quarter valued at about $40,000. Finally, Pacitti Group Inc. acquired a new position in shares of Lennar during the second quarter valued at about $44,000. Institutional investors own 81.62% of the company’s stock.
In other news, Director Scott D. Stowell sold 128,603 shares of the stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $76.35, for a total transaction of $9,818,839.05. Following the sale, the director now directly owns 59,322 shares of the company’s stock, valued at $4,529,234.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Joseph Mccall sold 3,707 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $80.01, for a total transaction of $296,597.07. Following the sale, the executive vice president now directly owns 177,910 shares in the company, valued at $14,234,579.10. The disclosure for this sale can be found here. Insiders have sold 164,964 shares of company stock worth $12,824,118 over the last three months. 8.60% of the stock is owned by insiders.
NYSE LEN opened at $75.76 on Friday. The firm has a market cap of $23.69 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.97 and a beta of 1.65. The company has a 50 day moving average of $78.44 and a 200-day moving average of $70.10. The company has a current ratio of 13.62, a quick ratio of 1.55 and a debt-to-equity ratio of 0.42. Lennar Co. has a 1-year low of $25.42 and a 1-year high of $86.80.
Lennar (NYSE:LEN) last posted its quarterly earnings data on Monday, September 14th. The construction company reported $2.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.61. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.53 billion. Lennar had a net margin of 9.97% and a return on equity of 13.35%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $1.59 earnings per share. On average, analysts forecast that Lennar Co. will post 7.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 16th were issued a dividend of $0.25 per share. This is a positive change from Lennar’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, October 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. Lennar’s dividend payout ratio (DPR) is presently 17.42%.
A number of research analysts have recently commented on LEN shares. BTIG Research upped their price objective on shares of Lennar from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, September 11th. Bank of America upped their price objective on shares of Lennar from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, September 16th. Zacks Investment Research raised shares of Lennar from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research report on Monday, September 14th. JPMorgan Chase & Co. increased their price target on shares of Lennar from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, October 8th. Finally, 140166 raised shares of Lennar from a “neutral” rating to a “positive” rating and increased their price target for the stock from $77.00 to $94.00 in a research report on Thursday, September 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $80.72.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's 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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