Cadence Capital Management LLC Has $1.27 Million Stake in Lennar Co. (LEN)

Cadence Capital Management LLC grew its stake in Lennar Co. (NYSE:LEN) by 273.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,212 shares of the construction company’s stock after purchasing an additional 19,917 shares during the period. Cadence Capital Management LLC’s holdings in Lennar were worth $1,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Long Pond Capital LP lifted its holdings in Lennar by 197.0% in the second quarter. Long Pond Capital LP now owns 5,200,000 shares of the construction company’s stock valued at $273,000,000 after acquiring an additional 3,449,061 shares during the last quarter. Miller Value Partners LLC lifted its holdings in Lennar by 0.5% in the second quarter. Miller Value Partners LLC now owns 1,393,550 shares of the construction company’s stock valued at $73,161,000 after acquiring an additional 7,325 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Lennar by 3.5% in the third quarter. Sterling Capital Management LLC now owns 1,080,531 shares of the construction company’s stock valued at $50,450,000 after acquiring an additional 36,434 shares during the last quarter. Cannell Peter B & Co. Inc. lifted its holdings in Lennar by 486.7% in the second quarter. Cannell Peter B & Co. Inc. now owns 1,016,196 shares of the construction company’s stock valued at $53,350,000 after acquiring an additional 842,976 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Lennar by 3.5% in the second quarter. Swiss National Bank now owns 944,388 shares of the construction company’s stock valued at $49,580,000 after acquiring an additional 31,500 shares during the last quarter. Institutional investors and hedge funds own 85.12% of the company’s stock.

In other news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $46.98, for a total transaction of $939,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by corporate insiders.

Lennar stock opened at $41.90 on Friday. Lennar Co. has a twelve month low of $38.79 and a twelve month high of $72.17. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.72 and a current ratio of 12.62. The firm has a market cap of $14.19 billion, a PE ratio of 11.00, a P/E/G ratio of 0.48 and a beta of 1.24.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, October 3rd. The construction company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.11. Lennar had a return on equity of 12.87% and a net margin of 6.76%. The business had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.62 billion. During the same quarter in the prior year, the company earned $1.06 earnings per share. The company’s revenue was up 73.9% on a year-over-year basis. Analysts predict that Lennar Co. will post 4.94 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 2nd. Stockholders of record on Friday, October 19th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Thursday, October 18th. Lennar’s dividend payout ratio is currently 4.20%.

A number of research firms recently commented on LEN. Citigroup decreased their price objective on Lennar from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. TheStreet cut Lennar from a “b-” rating to a “c+” rating in a research note on Tuesday, October 23rd. Zacks Investment Research cut Lennar from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. JMP Securities set a $56.00 price target on Lennar and gave the stock a “buy” rating in a research note on Friday, October 5th. Finally, Bank of America decreased their price target on Lennar from $93.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, October 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $63.38.

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About Lennar

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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