Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lennar Corporation (NYSE:LEN) by 19.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,340 shares of the construction company’s stock after acquiring an additional 6,480 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lennar were worth $2,077,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Rational Advisors LLC bought a new position in Lennar in the 3rd quarter worth approximately $1,438,000. Macquarie Group Ltd. boosted its stake in Lennar by 64.4% in the 3rd quarter. Macquarie Group Ltd. now owns 9,190 shares of the construction company’s stock worth $485,000 after purchasing an additional 3,600 shares during the period. HAP Trading LLC boosted its stake in Lennar by 37.2% in the 3rd quarter. HAP Trading LLC now owns 91,633 shares of the construction company’s stock worth $4,838,000 after purchasing an additional 24,834 shares during the period. SG Americas Securities LLC boosted its stake in Lennar by 100.1% in the 3rd quarter. SG Americas Securities LLC now owns 80,200 shares of the construction company’s stock worth $4,235,000 after purchasing an additional 40,128 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Lennar by 9.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 63,472 shares of the construction company’s stock worth $3,351,000 after purchasing an additional 5,238 shares during the period. Institutional investors own 81.34% of the company’s stock.

Shares of Lennar Corporation (LEN) opened at $62.56 on Friday. Lennar Corporation has a twelve month low of $41.83 and a twelve month high of $63.27. The stock has a market capitalization of $14,769.62, a P/E ratio of 16.10, a PEG ratio of 1.53 and a beta of 1.34. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.05. Lennar had a return on equity of 12.37% and a net margin of 6.65%. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the business posted $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 predict that Lennar Corporation will post 4.04 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 2nd. Stockholders of record on Thursday, October 19th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Wednesday, October 18th. Lennar’s payout ratio is 4.61%.

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 research note on Monday, September 18th. JMP Securities upgraded Lennar from a “market perform” rating to an “outperform” rating in a research note on Monday, November 6th. MKM Partners reaffirmed a “neutral” rating on shares of Lennar in a report on Tuesday, September 5th. BTIG Research upped their price objective on Lennar from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. Finally, Mizuho reaffirmed a “hold” rating and set a $53.00 price objective on shares of Lennar in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Lennar presently has a consensus rating of “Hold” and an average price target of $57.93.

In related news, CFO Bruce E. Gross sold 5,000 shares of Lennar stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 371,043 shares in the company, valued at $22,262,580. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.18% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Zurcher Kantonalbank Zurich Cantonalbank Buys 6,480 Shares of Lennar Corporation (LEN)” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & international copyright and trademark law. The original version of this article can be accessed at https://www.thecerbatgem.com/2017/12/02/zurcher-kantonalbank-zurich-cantonalbank-buys-6480-shares-of-lennar-corporation-len.html.

Lennar 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.

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).

Institutional Ownership by Quarter for Lennar (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.