Eagle Asset Management Inc. Purchases New Shares in Lennar Co. (NYSE:LEN)

Eagle Asset Management Inc. purchased a new stake in shares of Lennar Co. (NYSE:LEN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 673,945 shares of the construction company’s stock, valued at approximately $37,639,000.

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A number of other hedge funds have also recently added to or reduced their stakes in LEN. DNB Asset Management AS grew its position in Lennar by 2.4% during the second quarter. DNB Asset Management AS now owns 60,069 shares of the construction company’s stock valued at $2,911,000 after buying an additional 1,404 shares during the period. First American Trust FSB acquired a new stake in shares of Lennar in the second quarter valued at about $3,402,000. Crossmark Global Holdings Inc. grew its position in shares of Lennar by 11.9% in the second quarter. Crossmark Global Holdings Inc. now owns 45,047 shares of the construction company’s stock valued at $2,183,000 after purchasing an additional 4,801 shares during the period. New England Research & Management Inc. acquired a new stake in shares of Lennar in the second quarter valued at about $962,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Lennar in the second quarter valued at about $251,000. Institutional investors own 84.97% of the company’s stock.

NYSE:LEN opened at $57.80 on Friday. The company’s 50-day moving average price is $58.75 and its 200-day moving average price is $52.66. The company has a current ratio of 14.19, a quick ratio of 0.79 and a debt-to-equity ratio of 0.59. The company has a market cap of $18.54 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.18 and a beta of 1.09. Lennar Co. has a twelve month low of $37.29 and a twelve month high of $62.63.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Wednesday, October 2nd. The construction company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.27. The firm had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $5.48 billion. Lennar had a net margin of 9.06% and a return on equity of 12.10%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $1.61 earnings per share. On average, analysts expect that Lennar Co. will post 5.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Thursday, October 17th. Lennar’s dividend payout ratio is currently 2.52%.

In other Lennar news, SVP Jeffrey Joseph Mccall sold 1,126 shares of Lennar stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $46.82, for a total transaction of $52,719.32. Following the transaction, the senior vice president now directly owns 184,034 shares of the company’s stock, valued at $8,616,471.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Irving Bolotin sold 5,000 shares of Lennar stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $58.90, for a total transaction of $294,500.00. Following the transaction, the director now directly owns 31,692 shares in the company, valued at $1,866,658.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,126 shares of company stock worth $2,954,819. Insiders own 8.43% of the company’s stock.

Several analysts have recently issued reports on LEN shares. Royal Bank of Canada lifted their target price on shares of Lennar from $59.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Buckingham Research lifted their target price on shares of Lennar from $60.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. SunTrust Banks started coverage on shares of Lennar in a research report on Monday, August 12th. They issued a “hold” rating and a $47.00 target price on the stock. Barclays lifted their target price on shares of Lennar from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Finally, BTIG Research lifted their target price on shares of Lennar from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $60.00.

About Lennar

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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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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