Trust Co. of Oklahoma Has $336,000 Stake in Lennar Corporation (NYSE:LEN)
Trust Co. of Oklahoma maintained its stake in Lennar Corporation (NYSE:LEN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,300 shares of the construction company’s stock at the end of the second quarter. Trust Co. of Oklahoma’s holdings in Lennar Corporation were worth $336,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. SeaBridge Investment Advisors LLC boosted its stake in shares of Lennar Corporation by 14.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 2,114 shares of the construction company’s stock worth $108,000 after buying an additional 259 shares in the last quarter. MUFG Americas Holdings Corp boosted its stake in shares of Lennar Corporation by 8.9% in the first quarter. MUFG Americas Holdings Corp now owns 3,030 shares of the construction company’s stock worth $155,000 after buying an additional 248 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Lennar Corporation during the first quarter worth about $182,000. Fisher Asset Management LLC bought a new stake in shares of Lennar Corporation during the first quarter worth about $206,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Lennar Corporation by 27.0% in the first quarter. Pacer Advisors Inc. now owns 4,038 shares of the construction company’s stock worth $207,000 after buying an additional 859 shares in the last quarter. Hedge funds and other institutional investors own 82.08% of the company’s stock.
Shares of Lennar Corporation (NYSE:LEN) opened at 54.29 on Tuesday. Lennar Corporation has a 12 month low of $39.68 and a 12 month high of $55.75. The company has a market capitalization of $12.73 billion, a P/E ratio of 15.87 and a beta of 1.26. The company’s 50 day moving average price is $53.09 and its 200 day moving average price is $50.59.
Lennar Corporation (NYSE:LEN) last announced its quarterly earnings data on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.13. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.90 billion. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Analysts expect that Lennar Corporation will post $3.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Shareholders of record on Thursday, July 13th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.29%. The ex-dividend date was Tuesday, July 11th. Lennar Corporation’s payout ratio is currently 4.68%.
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LEN has been the topic of a number of recent analyst reports. Zacks Investment Research raised Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Friday, June 16th. Wedbush reissued a “neutral” rating and set a $46.00 target price on shares of Lennar Corporation in a report on Thursday, June 15th. Argus reissued a “buy” rating and set a $60.00 target price (up from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. Mizuho initiated coverage on Lennar Corporation in a report on Tuesday, May 16th. They set a “buy” rating and a $59.00 target price on the stock. Finally, Royal Bank Of Canada boosted their target price on Lennar Corporation from $61.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Lennar Corporation currently has an average rating of “Buy” and an average price target of $56.53.
In other Lennar Corporation news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $53.17, for a total value of $1,063,400.00. Following the completion of the sale, the chief operating officer now owns 139,433 shares of the company’s stock, valued at $7,413,652.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.18% of the stock is owned by company insiders.
About Lennar Corporation
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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