Lennar Corporation (LEN) Shares Bought by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. increased its position in shares of Lennar Corporation (NYSE:LEN) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,200 shares of the construction company’s stock after buying an additional 550 shares during the period. Daiwa Securities Group Inc.’s holdings in Lennar Corporation were worth $331,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in LEN. CIBC Asset Management Inc increased its position in shares of Lennar Corporation by 2.1% in the second quarter. CIBC Asset Management Inc now owns 21,019 shares of the construction company’s stock worth $1,121,000 after buying an additional 423 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Lennar Corporation by 6.4% in the second quarter. Great West Life Assurance Co. Can now owns 135,892 shares of the construction company’s stock worth $7,238,000 after buying an additional 8,206 shares in the last quarter. Smead Capital Management Inc. boosted its stake in shares of Lennar Corporation by 43.3% in the second quarter. Smead Capital Management Inc. now owns 1,866,187 shares of the construction company’s stock worth $99,505,000 after buying an additional 564,085 shares during the last quarter. NGAM Advisors L.P. boosted its stake in shares of Lennar Corporation by 8.5% in the second quarter. NGAM Advisors L.P. now owns 83,809 shares of the construction company’s stock worth $4,469,000 after buying an additional 6,555 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of Lennar Corporation by 0.4% in the second quarter. Strs Ohio now owns 18,136 shares of the construction company’s stock worth $967,000 after buying an additional 68 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.
Shares of Lennar Corporation (NYSE LEN) opened at 54.07 on Wednesday. Lennar Corporation has a 1-year low of $39.68 and a 1-year high of $55.75. The firm’s 50 day moving average is $53.34 and its 200 day moving average is $51.19. The firm has a market capitalization of $12.68 billion, a PE ratio of 15.81 and a beta of 1.26.
Lennar Corporation (NYSE:LEN) last released its earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.13. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the business posted $0.95 EPS. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. Analysts anticipate that Lennar Corporation will post $3.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 27th. Shareholders of record on Thursday, July 13th were paid a dividend of $0.04 per share. The ex-dividend date was Tuesday, July 11th. This represents a $0.16 annualized dividend and a yield of 0.30%. Lennar Corporation’s dividend payout ratio (DPR) is presently 4.68%.
ILLEGAL ACTIVITY WARNING: This report was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/08/16/lennar-corporation-len-shares-bought-by-daiwa-securities-group-inc.html.
A number of equities research analysts recently commented on LEN shares. Zacks Investment Research cut shares of Lennar Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Mizuho started coverage on shares of Lennar Corporation in a research note on Tuesday, May 16th. They issued a “buy” rating and a $59.00 price objective on the stock. Wedbush reissued a “neutral” rating and issued a $46.00 price objective on shares of Lennar Corporation in a research note on Thursday, June 15th. BidaskClub cut shares of Lennar Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, Royal Bank Of Canada increased their price objective on shares of Lennar Corporation from $60.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, June 21st. Ten research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $56.53.
In other Lennar Corporation news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar Corporation stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the transaction, the chief operating officer now owns 139,433 shares of the company’s stock, valued at approximately $7,413,652.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.18% of the company’s stock.
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.
Want to see what other hedge funds are holding LEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lennar Corporation (NYSE:LEN).
Receive News & Stock Ratings for Lennar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar Corporation and related stocks with our FREE daily email newsletter.