Osborne Partners Capital Management LLC Acquires New Position in Lennar Co. (NYSE:LEN)

Osborne Partners Capital Management LLC acquired a new stake in Lennar Co. (NYSE:LEN) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 1,150 shares of the construction company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oakworth Capital Inc. acquired a new position in shares of Lennar in the third quarter valued at approximately $27,000. Wolff Wiese Magana LLC raised its position in shares of Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after buying an additional 140 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Lennar in the first quarter valued at approximately $30,000. New Covenant Trust Company N.A. acquired a new position in shares of Lennar in the first quarter valued at approximately $32,000. Finally, Asset Dedication LLC raised its position in shares of Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Price Performance

LEN stock opened at $173.28 on Friday. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. Lennar Co. has a one year low of $102.90 and a one year high of $193.80. The firm has a market capitalization of $47.00 billion, a PE ratio of 11.48, a P/E/G ratio of 1.62 and a beta of 1.61. The firm has a 50-day moving average of $182.08 and a two-hundred day moving average of $167.15.

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

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors 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 1.15%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.25%.

Wall Street Analyst Weigh In

LEN has been the subject of a number of recent analyst reports. Raymond James downgraded shares of Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Evercore ISI lowered their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Wedbush restated a “neutral” rating and issued a $144.00 target price on shares of Lennar in a report on Friday, September 20th. Bank Of America (Bofa) boosted their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $181.11.

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, 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.