Stone Ridge Asset Management LLC Boosts Stock Position in Lennar Co. (NYSE:LEN)

Stone Ridge Asset Management LLC increased its stake in Lennar Co. (NYSE:LEN) by 9.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,292 shares of the construction company’s stock after buying an additional 3,500 shares during the period. Stone Ridge Asset Management LLC’s holdings in Lennar were worth $2,248,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Allred Capital Management LLC purchased a new stake in Lennar during the 4th quarter valued at $31,000. Massey Quick Simon & CO. LLC purchased a new stake in Lennar during the 3rd quarter valued at $42,000. FinTrust Capital Advisors LLC purchased a new stake in Lennar during the 3rd quarter valued at $56,000. Evoke Wealth LLC purchased a new stake in Lennar during the 3rd quarter valued at $106,000. Finally, Penserra Capital Management LLC boosted its stake in Lennar by 38.0% during the 3rd quarter. Penserra Capital Management LLC now owns 2,065 shares of the construction company’s stock valued at $114,000 after purchasing an additional 569 shares during the last quarter. Institutional investors own 86.35% of the company’s stock.

In related news, Director Scott D. Stowell sold 300,000 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $67.20, for a total value of $20,160,000.00. Following the transaction, the director now directly owns 201,978 shares of the company’s stock, valued at approximately $13,572,921.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $56.06, for a total value of $1,121,200.00. Following the completion of the transaction, the president now directly owns 237,047 shares in the company, valued at $13,288,854.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 360,000 shares of company stock worth $23,840,200. 8.43% of the stock is owned by insiders.

LEN has been the topic of several recent analyst reports. BTIG Research increased their target price on Lennar from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, January 9th. They noted that the move was a valuation call. Royal Bank of Canada downgraded Lennar from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $63.00 to $62.00 in a research note on Tuesday, December 17th. Goldman Sachs Group initiated coverage on Lennar in a research note on Friday, December 6th. They set a “buy” rating and a $71.00 target price on the stock. ValuEngine upgraded Lennar from a “strong sell” rating to a “sell” rating in a research note on Friday, January 10th. Finally, Argus increased their price target on Lennar from $60.00 to $65.00 and gave the company a “buy” rating in a report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.94.

Shares of NYSE LEN traded up $0.57 during midday trading on Friday, hitting $70.33. 60,804 shares of the stock traded hands, compared to its average volume of 3,712,340. The firm has a 50-day moving average of $63.01 and a two-hundred day moving average of $57.58. The firm has a market capitalization of $22.22 billion, a P/E ratio of 12.21, a PEG ratio of 1.09 and a beta of 1.02. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.15 and a current ratio of 14.37. Lennar Co. has a one year low of $44.84 and a one year high of $71.23.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, January 8th. The construction company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.23. The firm had revenue of $6.97 billion for the quarter, compared to analysts’ expectations of $6.60 billion. Lennar had a return on equity of 12.00% and a net margin of 8.31%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.96 EPS. Equities analysts forecast that Lennar Co. will post 6.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.71%. This is a boost from Lennar’s previous quarterly dividend of $0.04. The ex-dividend date was Thursday, January 23rd. Lennar’s dividend payout ratio is presently 8.71%.

Lennar Company Profile

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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