Factory Mutual Insurance Co. cut its stake in shares of Lennar Co. (NYSE:LEN) by 14.1% during the first quarter, Holdings Channel reports. The fund owned 1,088,000 shares of the construction company’s stock after selling 178,000 shares during the period. Factory Mutual Insurance Co. owned about 0.46% of Lennar worth $55,694,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC increased its stake in shares of Lennar by 14.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 2,114 shares of the construction company’s stock valued at $108,000 after buying an additional 259 shares during the period. Orinda Asset Management LLC acquired a new stake in shares of Lennar during the third quarter valued at about $170,000. Mn Services Vermogensbeheer B.V. increased its stake in shares of Lennar by 5.1% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 4,701 shares of the construction company’s stock valued at $199,000 after buying an additional 227 shares during the period. Cleararc Capital Inc. acquired a new stake in shares of Lennar during the fourth quarter valued at about $205,000. Finally, First Interstate Bank increased its stake in shares of Lennar by 13,836.8% in the fourth quarter. First Interstate Bank now owns 5,296 shares of the construction company’s stock valued at $227,000 after buying an additional 5,258 shares during the period. 79.04% of the stock is currently owned by hedge funds and other institutional investors.
Lennar Co. (NYSE:LEN) traded up 0.23% during mid-day trading on Friday, hitting $52.01. The stock had a trading volume of 2,172,321 shares. The stock has a market cap of $12.19 billion, a PE ratio of 15.04 and a beta of 1.27. The firm’s 50-day moving average price is $51.46 and its 200-day moving average price is $45.65. Lennar Co. has a 1-year low of $39.68 and a 1-year high of $53.79.
Lennar (NYSE:LEN) last posted its earnings results on Tuesday, March 21st. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.18 billion. Lennar had a return on equity of 13.80% and a net margin of 8.33%. The business’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 earnings per share. On average, equities analysts expect that Lennar Co. will post $3.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 16th. Shareholders of record on Tuesday, May 2nd will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, April 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.31%. Lennar’s dividend payout ratio is currently 4.07%.
LEN has been the subject of several recent analyst reports. Zacks Investment Research downgraded Lennar from a “buy” rating to a “hold” rating in a report on Thursday, December 22nd. MKM Partners restated a “neutral” rating on shares of Lennar in a report on Friday, December 23rd. Barclays PLC initiated coverage on Lennar in a report on Thursday, January 5th. They issued an “overweight” rating and a $50.00 price target for the company. BTIG Research began coverage on Lennar in a report on Tuesday, February 7th. They issued a “buy” rating and a $56.00 price target for the company. Finally, Citigroup Inc began coverage on Lennar in a report on Tuesday, February 14th. They set a “neutral” rating and a $52.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $53.78.
Lennar Company Profile
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.
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