Sanders Capital LLC raised its position in shares of Lennar Corp. (NYSE:LEN) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 8,435,452 shares of the company’s stock after buying an additional 38,157 shares during the period. Lennar Corp. makes up approximately 3.2% of Sanders Capital LLC’s holdings, making the stock its 13th largest position. Sanders Capital LLC’s holdings in Lennar Corp. were worth $396,802,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the stock. Gateway Investment Advisers LLC boosted its stake in shares of 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 period. Pitcairn Co. boosted its stake in shares of 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 period. LS Investment Advisors LLC boosted its stake in shares of 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 period. Optimum Investment Advisors boosted its stake in shares of Lennar Corp. by 8.2% in the first quarter. Optimum Investment Advisors now owns 5,300 shares of the company’s stock worth $256,000 after buying an additional 400 shares during the period. Finally, Capstone Asset Management Co. boosted its stake in shares of Lennar Corp. by 2.7% in the second quarter. Capstone Asset Management Co. now owns 20,432 shares of the company’s stock worth $942,000 after buying an additional 540 shares during the period. 86.39% of the stock is owned by institutional investors.
Shares of Lennar Corp. (NYSE:LEN) traded down 1.40% during mid-day trading on Friday, hitting $41.54. 1,722,398 shares of the stock were exchanged. The stock’s 50 day moving average is $44.97 and its 200-day moving average is $46.19. Lennar Corp. has a 12 month low of $37.14 and a 12 month high of $52.50. The stock has a market cap of $9.10 billion, a PE ratio of 10.93 and a beta of 1.41.
Lennar Corp. (NYSE:LEN) last issued its 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. The firm earned $2.83 billion during the quarter. Lennar Corp. had a net margin of 8.37% and a return on equity of 13.98%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 earnings per share. On average, analysts anticipate that Lennar Corp. will post $3.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Wednesday, October 5th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Monday, October 3rd. Lennar Corp.’s dividend payout ratio (DPR) is presently 4.21%.
A number of equities research analysts have recently issued reports on the stock. Citigroup Inc. cut their price objective on shares of Lennar Corp. from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Wednesday, September 21st. Raymond James Financial Inc. raised shares of Lennar Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, June 27th. Royal Bank Of Canada dropped their price target on shares of Lennar Corp. from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, September 21st. FBR & Co reissued an “outperform” rating and set a $60.00 price target on shares of Lennar Corp. in a research report on Wednesday, June 22nd. Finally, MKM Partners reissued a “neutral” rating and set a $52.00 price target on shares of Lennar Corp. in a research report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $54.03.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $42.01, for a total value of $840,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.18% of the stock is currently owned by corporate insiders.
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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