Lennar Co. (LEN) Shares Sold by Swiss National Bank

Swiss National Bank lessened its stake in shares of Lennar Co. (NYSE:LEN) by 2.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 919,288 shares of the construction company’s stock after selling 25,100 shares during the quarter. Swiss National Bank’s holdings in Lennar were worth $42,922,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in shares of Lennar by 475.0% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,990 shares of the construction company’s stock worth $157,000 after buying an additional 2,470 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Lennar by 132.4% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 48,445 shares of the construction company’s stock worth $2,543,000 after buying an additional 27,595 shares during the last quarter. Miller Value Partners LLC grew its stake in shares of Lennar by 0.5% during the second quarter. Miller Value Partners LLC now owns 1,393,550 shares of the construction company’s stock worth $73,161,000 after buying an additional 7,325 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Lennar during the third quarter worth $1,055,000. Finally, Riverhead Capital Management LLC grew its stake in shares of Lennar by 6.9% during the second quarter. Riverhead Capital Management LLC now owns 20,395 shares of the construction company’s stock worth $1,071,000 after buying an additional 1,314 shares during the last quarter. 87.14% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LEN opened at $42.74 on Friday. The company has a current ratio of 12.62, a quick ratio of 0.72 and a debt-to-equity ratio of 0.67. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 0.51 and a beta of 1.24. Lennar Co. has a 12 month low of $38.22 and a 12 month high of $72.17.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, October 3rd. The construction company reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.11. The business had revenue of $5.67 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Lennar had a net margin of 6.76% and a return on equity of 12.87%. The business’s quarterly revenue was up 73.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 earnings per share. As a group, sell-side analysts predict that Lennar Co. will post 4.92 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 2nd. Shareholders of record on Friday, October 19th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, October 18th. This represents a $0.16 dividend on an annualized basis and a yield of 0.37%. Lennar’s dividend payout ratio (DPR) is currently 4.20%.

Several analysts recently weighed in on LEN shares. Zacks Investment Research cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Barclays set a $63.00 price objective on shares of Lennar and gave the stock a “buy” rating in a research note on Friday, September 14th. ValuEngine cut shares of Lennar from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Wedbush reissued a “neutral” rating on shares of Lennar in a research note on Monday, October 1st. Finally, Mizuho set a $65.00 price objective on shares of Lennar and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $62.63.

In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $46.98, for a total transaction of $939,600.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 8.50% of the company’s stock.

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Lennar Profile

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.

See Also: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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