Scott & Selber Inc. Buys 1,005 Shares of Lennar Co. (NYSE:LEN)
Scott & Selber Inc. boosted its stake in shares of Lennar Co. (NYSE:LEN) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,002 shares of the construction company’s stock after acquiring an additional 1,005 shares during the period. Scott & Selber Inc.’s holdings in Lennar were worth $2,472,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Bank Hapoalim BM increased its stake in Lennar by 2.3% during the 1st quarter. Bank Hapoalim BM now owns 10,950 shares of the construction company’s stock worth $538,000 after acquiring an additional 250 shares during the period. Cerebellum GP LLC boosted its holdings in shares of Lennar by 4.4% in the 1st quarter. Cerebellum GP LLC now owns 6,572 shares of the construction company’s stock valued at $323,000 after purchasing an additional 278 shares in the last quarter. Hartford Investment Management Co. boosted its holdings in shares of Lennar by 1.1% in the 2nd quarter. Hartford Investment Management Co. now owns 31,177 shares of the construction company’s stock valued at $1,511,000 after purchasing an additional 328 shares in the last quarter. Keybank National Association OH boosted its holdings in shares of Lennar by 5.8% in the 1st quarter. Keybank National Association OH now owns 6,688 shares of the construction company’s stock valued at $328,000 after purchasing an additional 366 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its holdings in shares of Lennar by 6.9% in the 1st quarter. Belpointe Asset Management LLC now owns 6,277 shares of the construction company’s stock valued at $308,000 after purchasing an additional 406 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.
In related news, President Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $49.04, for a total transaction of $980,800.00. Following the completion of the transaction, the president now directly owns 346,946 shares of the company’s stock, valued at approximately $17,014,231.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.43% of the stock is owned by company insiders.
Lennar (NYSE:LEN) last announced its earnings results on Tuesday, June 25th. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.17. The business had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.13 billion. Lennar had a return on equity of 12.03% and a net margin of 8.86%. Lennar’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $1.58 EPS. On average, research analysts anticipate that Lennar Co. will post 5.31 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.32%. The ex-dividend date was Wednesday, July 10th. Lennar’s dividend payout ratio is currently 2.52%.
A number of equities research analysts have weighed in on the company. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $57.00 target price (down previously from $64.00) on shares of Lennar in a report on Wednesday, April 17th. BTIG Research set a $65.00 target price on Lennar and gave the company a “buy” rating in a report on Wednesday, June 26th. ValuEngine downgraded Lennar from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research downgraded Lennar from a “hold” rating to a “sell” rating and set a $53.00 target price on the stock. in a report on Thursday, May 30th. Finally, Wedbush set a $62.00 target price on Lennar and gave the company a “buy” rating in a report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $56.37.
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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