Cerity Partners LLC trimmed its holdings in shares of Lennar Co. (NYSE:LEN) by 49.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,064 shares of the construction company’s stock after selling 5,960 shares during the period. Cerity Partners LLC’s holdings in Lennar were worth $237,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of LEN. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of Lennar during the 3rd quarter valued at approximately $508,000. Cornerstone Wealth Management LLC purchased a new position in Lennar during the 3rd quarter valued at $370,000. IFM Investors Pty Ltd boosted its holdings in Lennar by 18.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 15,244 shares of the construction company’s stock valued at $712,000 after acquiring an additional 2,424 shares during the period. Chevy Chase Trust Holdings Inc. boosted its holdings in Lennar by 4.0% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 240,444 shares of the construction company’s stock valued at $11,226,000 after acquiring an additional 9,303 shares during the period. Finally, Tower Bridge Advisors boosted its holdings in Lennar by 6.4% during the 3rd quarter. Tower Bridge Advisors now owns 209,981 shares of the construction company’s stock valued at $9,804,000 after acquiring an additional 12,715 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.
In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $40.03, for a total value of $800,600.00. Following the completion of the sale, the chief operating officer now directly owns 171,014 shares in the company, valued at approximately $6,845,690.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is currently owned by corporate insiders.
Shares of LEN stock opened at $48.90 on Tuesday. Lennar Co. has a twelve month low of $37.29 and a twelve month high of $64.90. The firm has a market capitalization of $15.85 billion, a price-to-earnings ratio of 7.70, a PEG ratio of 0.57 and a beta of 1.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 11.48 and a quick ratio of 1.12.
Lennar (NYSE:LEN) last issued its earnings results on Wednesday, January 9th. The construction company reported $1.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.05. Lennar had a return on equity of 13.76% and a net margin of 8.24%. The business had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.46 billion. During the same period in the prior year, the business earned $1.29 EPS. The business’s revenue for the quarter was up 70.7% compared to the same quarter last year. As a group, equities analysts forecast that Lennar Co. will post 6.02 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 8th. Shareholders of record on Friday, January 25th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Thursday, January 24th. Lennar’s dividend payout ratio is 2.52%.
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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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.
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