1,512,120 Shares in Lennar Co. (NYSE:LEN) Purchased by GQG Partners LLC

GQG Partners LLC bought a new position in Lennar Co. (NYSE:LEN) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,512,120 shares of the construction company’s stock, valued at approximately $150,197,000. GQG Partners LLC owned about 0.48% of Lennar at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LEN. Sandy Spring Bank bought a new stake in Lennar in the 2nd quarter worth about $25,000. Samalin Investment Counsel LLC bought a new stake in Lennar in the 2nd quarter worth about $25,000. Harbour Investments Inc. bought a new stake in Lennar in the 1st quarter worth about $27,000. KB Financial Partners LLC bought a new stake in Lennar in the 1st quarter worth about $28,000. Finally, Van ECK Associates Corp bought a new stake in Lennar in the 1st quarter worth about $32,000. 80.87% of the stock is owned by institutional investors and hedge funds.

NYSE LEN traded up $2.42 on Thursday, hitting $97.47. The stock had a trading volume of 32,002 shares, compared to its average volume of 2,428,434. Lennar Co. has a 52-week low of $69.41 and a 52-week high of $110.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.53 and a current ratio of 11.02. The company has a market capitalization of $30.16 billion, a price-to-earnings ratio of 9.06 and a beta of 1.50. The firm has a 50-day moving average of $101.42 and a 200-day moving average of $100.58.

Lennar (NYSE:LEN) last posted its earnings results on Sunday, September 19th. The construction company reported $4.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.27 by $1.25. Lennar had a net margin of 13.83% and a return on equity of 16.82%. The business had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $7.26 billion. During the same period in the prior year, the company posted $2.12 EPS. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, research analysts anticipate that Lennar Co. will post 12.7 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 28th. Shareholders of record on Thursday, October 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, October 13th. Lennar’s dividend payout ratio is presently 12.99%.

LEN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Lennar from $143.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday. Zacks Investment Research downgraded shares of Lennar from a “strong-buy” rating to a “hold” rating and set a $110.00 target price for the company. in a research report on Wednesday, August 18th. Evercore ISI increased their target price on shares of Lennar from $121.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, June 18th. Royal Bank of Canada increased their target price on shares of Lennar from $100.00 to $102.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 22nd. Finally, Barclays increased their target price on shares of Lennar from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, June 18th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $110.78.

Lennar Company Profile

Lennar Corp. is a homebuilder company, which engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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