Lennar Corporation (NYSE:LEN) Stake Held by APG Asset Management N.V.
APG Asset Management N.V. continued to hold 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 256,381 shares of the construction company’s stock at the end of the second quarter. APG Asset Management N.V. owned approximately 0.13% of Lennar Corporation worth $13,670,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Alliancebernstein L.P. increased its position in Lennar Corporation by 527.2% in the first quarter. Alliancebernstein L.P. now owns 2,094,587 shares of the construction company’s stock valued at $107,222,000 after buying an additional 1,760,608 shares during the period. Capital Growth Management LP increased its stake in shares of Lennar Corporation by 55.5% in the first quarter. Capital Growth Management LP now owns 2,130,000 shares of the construction company’s stock worth $109,035,000 after buying an additional 760,000 shares during the last quarter. Oakmont Corp increased its stake in shares of Lennar Corporation by 1,293.5% in the first quarter. Oakmont Corp now owns 790,830 shares of the construction company’s stock worth $40,483,000 after buying an additional 734,080 shares during the last quarter. Nomura Holdings Inc. increased its stake in shares of Lennar Corporation by 1,223.5% in the first quarter. Nomura Holdings Inc. now owns 597,709 shares of the construction company’s stock worth $30,603,000 after buying an additional 552,547 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Lennar Corporation by 14.1% in the first quarter. UBS Asset Management Americas Inc. now owns 2,918,880 shares of the construction company’s stock worth $149,417,000 after buying an additional 361,684 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors.
Shares of Lennar Corporation (NYSE:LEN) traded down 1.89% during mid-day trading on Friday, reaching $51.88. The company’s stock had a trading volume of 1,758,110 shares. Lennar Corporation has a 12-month low of $39.68 and a 12-month high of $55.75. The company’s 50-day moving average price is $53.38 and its 200-day moving average price is $51.27. The stock has a market capitalization of $12.17 billion, a P/E ratio of 15.17 and a beta of 1.26.
Lennar Corporation (NYSE:LEN) last posted its quarterly earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share for the quarter, beating the Zacks’ 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 period last year, the firm earned $0.95 earnings per share. Lennar Corporation’s quarterly revenue was up 18.8% on a year-over-year basis. On average, equities research analysts forecast that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Thursday, July 13th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Tuesday, July 11th. Lennar Corporation’s dividend payout ratio is currently 4.68%.
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A number of research firms have recently commented on LEN. BidaskClub raised shares of Lennar Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Zacks Investment Research lowered shares of Lennar Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $62.00 price objective on shares of Lennar Corporation in a report on Thursday, July 27th. Argus restated a “buy” rating and set a $60.00 price target (up previously from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada raised their price target on shares of Lennar Corporation from $61.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, July 13th. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $56.53.
In other Lennar Corporation news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar Corporation stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $53.17, for a total value of $1,063,400.00. Following the sale, the chief operating officer now owns 139,433 shares of the company’s stock, valued at approximately $7,413,652.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.18% of the company’s stock.
Lennar Corporation 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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