Lennar Co. (NYSE:LEN) Position Boosted by Empirical Finance LLC

Empirical Finance LLC boosted its position in Lennar Co. (NYSE:LEN) by 1.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,798 shares of the construction company’s stock after buying an additional 149 shares during the period. Empirical Finance LLC’s holdings in Lennar were worth $1,649,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lakewood Asset Management LLC lifted its position in shares of Lennar by 0.8% in the 2nd quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after buying an additional 70 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in Lennar by 1.5% in the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after acquiring an additional 73 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in Lennar by 5.7% in the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock valued at $207,000 after acquiring an additional 74 shares during the period. Quotient Wealth Partners LLC grew its holdings in shares of Lennar by 5.0% during the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock valued at $231,000 after purchasing an additional 74 shares during the last quarter. Finally, Jupiter Wealth Management LLC lifted its holdings in shares of Lennar by 1.0% in the 3rd quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock worth $1,437,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on LEN shares. Keefe, Bruyette & Woods increased their target price on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their price objective on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Bank Of America (Bofa) upped their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Citigroup boosted their price objective on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Evercore ISI lowered their target price on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock 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 issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $180.56.

Insider Buying and Selling

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the sale, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.36% of the stock is currently owned by company insiders.

Lennar Stock Performance

Shares of LEN opened at $168.90 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The firm’s 50 day moving average is $179.35 and its 200-day moving average is $168.76. Lennar Co. has a 12-month low of $125.17 and a 12-month high of $193.80. The stock has a market capitalization of $45.81 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.56 and a beta of 1.62.

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

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio is 13.25%.

Lennar 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, 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.