Lennar Co. (LEN) Position Lifted by Bank Hapoalim BM

Bank Hapoalim BM increased its stake in Lennar Co. (NYSE:LEN) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,950 shares of the construction company’s stock after buying an additional 250 shares during the period. Bank Hapoalim BM’s holdings in Lennar were worth $538,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LEN. Oregon Public Employees Retirement Fund increased its stake in Lennar by 5,332.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,346,825 shares of the construction company’s stock worth $111,000 after buying an additional 4,266,802 shares during the period. Abrams Bison Investments LLC purchased a new position in Lennar in the 4th quarter worth about $115,281,000. Sound Shore Management Inc. CT purchased a new position in Lennar in the 4th quarter worth about $105,318,000. MUFG Securities EMEA plc increased its position in Lennar by 7,486.3% during the 4th quarter. MUFG Securities EMEA plc now owns 600,000 shares of the construction company’s stock valued at $23,490,000 after purchasing an additional 592,091 shares during the period. Finally, Ruffer LLP increased its position in Lennar by 407.8% during the 4th quarter. Ruffer LLP now owns 573,702 shares of the construction company’s stock valued at $22,461,000 after purchasing an additional 460,725 shares during the period. 85.26% of the stock is currently owned by institutional investors.

Shares of Lennar stock opened at $52.75 on Wednesday. The company has a current ratio of 14.77, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. Lennar Co. has a 52-week low of $37.29 and a 52-week high of $55.77. The company has a market capitalization of $16.73 billion, a PE ratio of 8.31, a PEG ratio of 0.68 and a beta of 1.33.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, March 27th. The construction company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). Lennar had a return on equity of 13.04% and a net margin of 8.39%. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the previous year, the firm earned $1.11 EPS. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. On average, equities research analysts expect that Lennar Co. will post 5.42 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lennar’s payout ratio is currently 2.52%.

In other news, President Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $48.94, for a total value of $978,800.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.43% of the stock is owned by insiders.

A number of research analysts have commented on LEN shares. Credit Suisse Group reissued a “hold” rating and set a $49.00 target price on shares of Lennar in a research report on Friday, February 15th. Wedbush downgraded shares of Lennar from an “outperform” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research report on Thursday, February 21st. Keefe, Bruyette & Woods reissued a “buy” rating and set a $60.00 target price on shares of Lennar in a research report on Sunday, February 24th. Zacks Investment Research raised shares of Lennar from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Finally, KeyCorp raised their target price on shares of Lennar from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Lennar presently has an average rating of “Buy” and an average target price of $57.27.

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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.

Further Reading: Diluted Earnings Per Share

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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