State of Tennessee Treasury Department increased its position in shares of Lennar Corporation (NYSE:LEN) by 39.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 106,947 shares of the construction company’s stock after buying an additional 30,359 shares during the period. State of Tennessee Treasury Department owned about 0.05% of Lennar Corporation worth $5,647,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its stake in shares of Lennar Corporation by 8.9% during the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after buying an additional 155 shares during the period. Commonwealth Bank of Australia increased its stake in shares of Lennar Corporation by 32.4% during the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after buying an additional 530 shares during the period. Washington Trust Bank increased its stake in shares of Lennar Corporation by 47.6% during the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock worth $131,000 after buying an additional 794 shares during the period. QS Investors LLC increased its stake in shares of Lennar Corporation by 1.0% during the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after buying an additional 25 shares during the period. Finally, MUFG Americas Holdings Corp increased its stake in shares of Lennar Corporation by 7.3% during the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 79.83% of the company’s stock.
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Shares of Lennar Corporation (NYSE:LEN) opened at $58.22 on Tuesday. The firm has a market capitalization of $13,812.11, a P/E ratio of 15.05, a PEG ratio of 1.42 and a beta of 1.31. Lennar Corporation has a fifty-two week low of $41.20 and a fifty-two week high of $59.32. The company has a quick ratio of 0.59, a current ratio of 7.76 and a debt-to-equity ratio of 0.72.
Lennar Corporation (NYSE:LEN) last posted its quarterly earnings data on Tuesday, October 3rd. The construction company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 earnings per share. sell-side analysts predict that Lennar Corporation will post 4.05 EPS 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 issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Wednesday, October 18th. Lennar Corporation’s payout ratio is currently 4.61%.
In other news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $56.48, for a total value of $282,400.00. Following the completion of the sale, the chief financial officer now directly owns 376,043 shares of the company’s stock, valued at $21,238,908.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.18% of the stock is currently owned by corporate insiders.
About Lennar Corporation
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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