LMR Partners LLP Buys Shares of 25,587 Lennar Co. (NYSE:LEN)

LMR Partners LLP acquired a new position in Lennar Co. (NYSE:LEN) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 25,587 shares of the construction company’s stock, valued at approximately $4,797,000.

Several other hedge funds also recently made changes to their positions in LEN. Oakworth Capital Inc. acquired a new stake in shares of Lennar during the third quarter worth approximately $27,000. Wolff Wiese Magana LLC increased its position in Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after acquiring an additional 140 shares during the period. GHP Investment Advisors Inc. bought a new position in Lennar during the third quarter worth $30,000. Asset Dedication LLC increased its position in Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after acquiring an additional 169 shares during the period. Finally, DT Investment Partners LLC increased its position in Lennar by 523.3% during the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after acquiring an additional 157 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Down 0.6 %

LEN stock opened at $167.92 on Tuesday. The company has a market cap of $45.55 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. The business has a 50-day simple moving average of $179.10 and a 200 day simple moving average of $169.08. Lennar Co. has a 52 week low of $125.17 and a 52 week high of $193.80. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.91 earnings per share. Sell-side analysts anticipate that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LEN shares. Wells Fargo & Company lowered their price target on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. JPMorgan Chase & Co. raised their target price on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Barclays raised their target price on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Citigroup increased their price target on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Lennar has an average rating of “Hold” and an average price target of $180.56.

Insiders Place Their Bets

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the transaction, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.36% of the company’s stock.

About Lennar

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, Financial Services, Multifamily, and Lennar Other 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; and development, construction, and management of multifamily rental properties.