Mason Street Advisors LLC purchased a new position in shares of Lennar Corp. (NYSE:LEN) during the second quarter, according to its most recent filing with the SEC. The fund purchased 24,704 shares of the company’s stock, valued at approximately $1,139,000.
Several other large investors have also recently bought and sold shares of the stock. Cleararc Capital Inc. boosted its stake in Lennar Corp. by 1.9% in the second quarter. Cleararc Capital Inc. now owns 4,465 shares of the company’s stock worth $206,000 after buying an additional 83 shares during the last quarter. Gateway Investment Advisers LLC boosted its stake in Lennar Corp. by 0.8% in the second quarter. Gateway Investment Advisers LLC now owns 12,620 shares of the company’s stock worth $582,000 after buying an additional 97 shares during the last quarter. Pitcairn Co. boosted its stake in Lennar Corp. by 1.7% in the second quarter. Pitcairn Co. now owns 7,530 shares of the company’s stock worth $347,000 after buying an additional 125 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Lennar Corp. by 2.9% in the second quarter. LS Investment Advisors LLC now owns 7,648 shares of the company’s stock worth $353,000 after buying an additional 217 shares during the last quarter. Finally, Concert Wealth Management Inc. boosted its stake in Lennar Corp. by 4.1% in the second quarter. Concert Wealth Management Inc. now owns 7,946 shares of the company’s stock worth $366,000 after buying an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.
Shares of Lennar Corp. (NYSE:LEN) opened at 43.11 on Monday. Lennar Corp. has a one year low of $37.14 and a one year high of $52.50. The firm has a 50-day moving average of $46.14 and a 200-day moving average of $46.42. The company has a market capitalization of $9.45 billion, a P/E ratio of 11.34 and a beta of 1.37.
Lennar Corp. (NYSE:LEN) last issued its quarterly earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.12. Lennar Corp. had a net margin of 8.52% and a return on equity of 14.41%. The business had revenue of $2.83 billion for the quarter. During the same quarter in the previous year, the company posted $0.96 EPS. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. Analysts forecast that Lennar Corp. will post $3.82 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Wednesday, October 5th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Monday, October 3rd. Lennar Corp.’s dividend payout ratio (DPR) is currently 4.21%.
A number of research firms have recently commented on LEN. Citigroup Inc. cut their price target on shares of Lennar Corp. from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, September 21st. Royal Bank Of Canada cut their price target on shares of Lennar Corp. from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, September 21st. Raymond James Financial Inc. upgraded shares of Lennar Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, June 27th. FBR & Co restated an “outperform” rating and issued a $60.00 target price on shares of Lennar Corp. in a report on Wednesday, September 21st. Finally, Zacks Investment Research cut shares of Lennar Corp. from a “hold” rating to a “sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $54.03.
About Lennar Corp.
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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