We Are One Seven LLC purchased a new stake in shares of Lennar Co. (NYSE:LEN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,304 shares of the construction company’s stock, valued at approximately $352,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Paloma Partners Management Co grew its stake in shares of Lennar by 61.4% in the 2nd quarter. Paloma Partners Management Co now owns 78,524 shares of the construction company’s stock valued at $3,805,000 after purchasing an additional 29,862 shares during the period. Elkfork Partners LLC grew its position in Lennar by 2.7% during the 2nd quarter. Elkfork Partners LLC now owns 28,700 shares of the construction company’s stock worth $1,391,000 after acquiring an additional 756 shares during the last quarter. Verition Fund Management LLC bought a new stake in Lennar during the 2nd quarter worth approximately $2,850,000. Quantitative Systematic Strategies LLC bought a new stake in Lennar during the 2nd quarter worth approximately $2,218,000. Finally, Comerica Bank grew its position in Lennar by 2.6% during the 2nd quarter. Comerica Bank now owns 59,649 shares of the construction company’s stock worth $2,793,000 after acquiring an additional 1,506 shares during the last quarter. Hedge funds and other institutional investors own 83.78% of the company’s stock.
A number of equities research analysts recently commented on LEN shares. SunTrust Banks started coverage on Lennar in a research report on Monday, August 12th. They set a “hold” rating and a $47.00 price target on the stock. Wedbush set a $62.00 price objective on Lennar and gave the stock a “buy” rating in a report on Wednesday, June 26th. Raymond James raised Lennar from a “market perform” rating to an “outperform” rating and set a $61.00 price objective on the stock in a report on Wednesday, September 25th. Royal Bank of Canada upped their price objective on Lennar from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $60.00.
In related news, Director Irving Bolotin sold 5,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $58.90, for a total transaction of $294,500.00. Following the sale, the director now owns 31,692 shares of the company’s stock, valued at approximately $1,866,658.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $56.00, for a total value of $1,120,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 51,126 shares of company stock worth $2,954,819. 8.43% of the stock is currently owned by company insiders.
LEN stock opened at $58.52 on Friday. The business’s fifty day moving average is $54.19 and its 200-day moving average is $51.31. The company has a quick ratio of 0.79, a current ratio of 14.19 and a debt-to-equity ratio of 0.59. The company has a market cap of $19.01 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 1.20 and a beta of 1.10. Lennar Co. has a twelve month low of $37.29 and a twelve month high of $59.98.
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, beating the Zacks’ consensus estimate of $1.32 by $0.27. The company had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $5.48 billion. Lennar had a return on equity of 12.10% and a net margin of 9.06%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.61 EPS. Research analysts anticipate that Lennar Co. will post 5.49 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Thursday, October 17th. Lennar’s dividend payout ratio (DPR) is currently 2.52%.
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.
See Also: What is a Lock-Up Period?
Want to see what other hedge funds are holding LEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lennar Co. (NYSE:LEN).
Receive News & Ratings for Lennar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar and related companies with MarketBeat.com's FREE daily email newsletter.