Trading Report: The Tokio Marine Asset Management Co. Ltd. decides to keep it stake in Lennar Corp. (LEN) to the level of $342,000

The Tokio Marine Asset Management Co. Ltd. decides to keep it stake in Lennar Corp. (LEN) to the level of $342,000

Tokio Marine Asset Management Co. Ltd. maintained its stake in shares of Lennar Corp. (NYSE:LEN) during the second quarter, Holdings Channel reports. The firm owned 7,418 shares of the company’s stock at the end of the second quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Lennar Corp. were worth $342,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Essex Investment Management Co. LLC boosted its stake in shares of Lennar Corp. by 65.6% in the second quarter. Essex Investment Management Co. LLC now owns 43,014 shares of the company’s stock valued at $1,983,000 after buying an additional 17,046 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Lennar Corp. by 0.7% in the second quarter. Retirement Systems of Alabama now owns 93,501 shares of the company’s stock valued at $4,310,000 after buying an additional 677 shares in the last quarter. Pitcairn Co. boosted its stake in shares of Lennar Corp. by 1.7% in the second quarter. Pitcairn Co. now owns 7,530 shares of the company’s stock valued at $347,000 after buying an additional 125 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Lennar Corp. during the second quarter valued at about $5,570,000. Finally, Shell Asset Management Co. boosted its stake in shares of Lennar Corp. by 33.0% in the second quarter. Shell Asset Management Co. now owns 13,325 shares of the company’s stock valued at $614,000 after buying an additional 3,309 shares in the last quarter. Institutional investors and hedge funds own 86.40% of the company’s stock.

Shares of Lennar Corp. (NYSE:LEN) traded down 1.99% during midday trading on Thursday, reaching $40.96. 3,108,581 shares of the company’s stock traded hands. Lennar Corp. has a 1-year low of $37.14 and a 1-year high of $52.50. The firm’s 50-day moving average price is $44.36 and its 200 day moving average price is $46.04. The stock has a market capitalization of $9.33 billion, a P/E ratio of 10.78 and a beta of 1.41.

Lennar Corp. (NYSE:LEN) last released its quarterly earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. The business had revenue of $2.83 billion for the quarter. Lennar Corp. had a net margin of 8.37% and a return on equity of 13.98%. Lennar Corp.’s revenue was up 13.7% on a year-over-year basis. During the same period last year, the firm posted $0.96 earnings per share. On average, equities analysts predict that Lennar Corp. will post $3.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Wednesday, October 5th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, October 3rd. Lennar Corp.’s dividend payout ratio (DPR) is 4.21%.

Several brokerages have recently issued reports on LEN. Wells Fargo & Co. began coverage on shares of Lennar Corp. in a research report on Wednesday, September 28th. They set a “market perform” rating on the stock. MKM Partners set a $51.00 target price on shares of Lennar Corp. and gave the company a “hold” rating in a research report on Thursday, September 22nd. Zacks Investment Research cut shares of Lennar Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, September 22nd. Bank of America Corp. set a $52.00 target price on shares of Lennar Corp. and gave the company a “buy” rating in a research report on Tuesday, September 20th. Finally, FBR & Co restated an “outperform” rating and set a $60.00 target price on shares of Lennar Corp. in a research report on Wednesday, September 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $54.03.

In other news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $42.01, for a total value of $840,200.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 12.18% of the stock is currently owned by insiders.

Lennar Corp. Company Profile

Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.

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