Credit Suisse AG lowered its stake in shares of Lennar Co. (NYSE:LEN – Free Report) by 8.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 382,991 shares of the construction company’s stock after selling 35,521 shares during the period. Credit Suisse AG owned approximately 0.13% of Lennar worth $40,256,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of Lennar by 111.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,467,501 shares of the construction company’s stock worth $259,359,000 after buying an additional 1,300,163 shares in the last quarter. Duquesne Family Office LLC bought a new position in shares of Lennar during the 4th quarter worth approximately $39,991,000. Smead Capital Management Inc. lifted its position in shares of Lennar by 16.3% during the 4th quarter. Smead Capital Management Inc. now owns 2,962,690 shares of the construction company’s stock worth $268,123,000 after buying an additional 415,350 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Lennar by 94.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 667,414 shares of the construction company’s stock worth $60,401,000 after buying an additional 323,531 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Lennar by 196.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 472,781 shares of the construction company’s stock worth $49,694,000 after buying an additional 313,274 shares in the last quarter. Institutional investors and hedge funds own 82.69% of the company’s stock.
Insider Activity
In related news, Director Amy Banse bought 859 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average cost of $117.65 per share, for a total transaction of $101,061.35. Following the completion of the transaction, the director now owns 8,972 shares of the company’s stock, valued at $1,055,555.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $126.48, for a total value of $1,264,800.00. Following the completion of the transaction, the executive vice president now directly owns 141,386 shares in the company, valued at $17,882,501.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy Banse bought 859 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average price of $117.65 per share, with a total value of $101,061.35. Following the completion of the transaction, the director now directly owns 8,972 shares of the company’s stock, valued at approximately $1,055,555.80. The disclosure for this purchase can be found here. Insiders bought 2,634 shares of company stock worth $321,855 in the last three months. Corporate insiders own 9.53% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on LEN
Lennar Stock Down 1.0 %
LEN opened at $115.83 on Tuesday. The company has a fifty day moving average price of $124.23 and a 200-day moving average price of $112.33. The firm has a market capitalization of $33.29 billion, a P/E ratio of 7.91, a price-to-earnings-growth ratio of 1.54 and a beta of 1.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.08 and a quick ratio of 1.24. Lennar Co. has a one year low of $69.90 and a one year high of $133.24.
Lennar (NYSE:LEN – Get Free Report) last released its quarterly earnings results on Wednesday, June 14th. The construction company reported $2.94 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.62. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.28 billion. Lennar had a net margin of 12.66% and a return on equity of 18.27%. Equities research analysts expect that Lennar Co. will post 12.65 earnings per share for the current fiscal year.
Lennar Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.30%. Lennar’s dividend payout ratio (DPR) is currently 10.24%.
Lennar Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's 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; and development, construction, and management of multifamily rental properties.
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