Lennar Co. (NYSE:LEN) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital raised its stake in shares of Lennar Co. (NYSE:LEN) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,239 shares of the construction company’s stock after purchasing an additional 268 shares during the period. Wedmont Private Capital’s holdings in Lennar were worth $771,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. D1 Capital Partners L.P. increased its position in shares of Lennar by 428.9% in the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after acquiring an additional 1,962,447 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Lennar by 15.1% in the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after purchasing an additional 396,951 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in shares of Lennar in the first quarter valued at $61,807,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Lennar by 157.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock valued at $98,889,000 after purchasing an additional 351,698 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of Lennar by 20.9% in the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after purchasing an additional 348,553 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LEN shares. Argus increased their price objective on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. BTIG Research reduced their price target on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. Bank Of America (Bofa) raised their price target 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. Keefe, Bruyette & Woods raised their price target on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada raised their price target on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $181.11.

Lennar Stock Down 0.0 %

Lennar stock opened at $178.15 on Friday. The stock has a market cap of $48.92 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.68 and a beta of 1.61. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $179.86 and its two-hundred day moving average price is $166.11. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $193.80.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. Lennar’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $3.91 EPS. On average, analysts expect that Lennar Co. will post 14.28 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.12%. Lennar’s dividend payout ratio is currently 13.25%.

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.