Lennar Corporation (NYSE:LEN) CFO Bruce E. Gross sold 5,000 shares of the business’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $56.48, for a total transaction of $282,400.00. Following the sale, the chief financial officer now directly owns 376,043 shares of the company’s stock, valued at approximately $21,238,908.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Lennar Corporation (LEN) opened at 55.89 on Friday. Lennar Corporation has a 12-month low of $39.68 and a 12-month high of $56.78. The company has a market cap of $13.11 billion, a P/E ratio of 16.34 and a beta of 1.22. The firm’s 50 day moving average is $51.83 and its 200 day moving average is $52.10.

Lennar Corporation (NYSE:LEN) last announced its earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Lennar Corporation had a net margin of 6.65% and a return on equity of 12.52%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts anticipate that Lennar Corporation will post $3.82 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 2nd. Stockholders of record on Thursday, October 19th will be given a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, October 18th. This represents a $0.16 annualized dividend and a dividend yield of 0.29%. Lennar Corporation’s dividend payout ratio (DPR) is 4.61%.

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LEN has been the subject of several recent analyst reports. Argus reaffirmed a “buy” rating and issued a $60.00 target price (up previously from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. Bank of America Corporation reaffirmed a “buy” rating and issued a $63.00 target price (up previously from $60.00) on shares of Lennar Corporation in a report on Wednesday, June 21st. Zacks Investment Research raised shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Wednesday, July 12th. Mizuho reaffirmed a “buy” rating on shares of Lennar Corporation in a report on Tuesday, July 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $62.00 target price on shares of Lennar Corporation in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $57.63.

Several hedge funds and other institutional investors have recently made changes to their positions in LEN. Principal Financial Group Inc. grew its position in shares of Lennar Corporation by 25.0% in the second quarter. Principal Financial Group Inc. now owns 3,129,708 shares of the construction company’s stock valued at $166,876,000 after purchasing an additional 625,329 shares during the period. Smead Capital Management Inc. grew its position 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 valued at $99,505,000 after purchasing an additional 564,085 shares during the period. Nomura Holdings Inc. grew its position 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 valued at $30,603,000 after purchasing an additional 552,547 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Lennar Corporation by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,516,323 shares of the construction company’s stock valued at $400,771,000 after purchasing an additional 386,110 shares during the period. Finally, Thrivent Financial For Lutherans boosted its position in Lennar Corporation by 3,562.6% during the first quarter. Thrivent Financial For Lutherans now owns 245,030 shares of the construction company’s stock worth $12,543,000 after acquiring an additional 238,340 shares during the last quarter. Institutional investors and hedge funds own 81.10% 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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