Lennar Co. (NYSE:LEN) Shares Purchased by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC raised its holdings in Lennar Co. (NYSE:LEN) by 14.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,862 shares of the construction company’s stock after acquiring an additional 752 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Lennar were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in LEN. Price T Rowe Associates Inc. MD boosted its holdings in shares of Lennar by 1.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 350,987 shares of the construction company’s stock worth $60,364,000 after buying an additional 6,136 shares during the period. SVB Wealth LLC boosted its position in Lennar by 15.9% during the 1st quarter. SVB Wealth LLC now owns 3,916 shares of the construction company’s stock worth $674,000 after acquiring an additional 538 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Lennar in the 1st quarter valued at about $996,000. B. Riley Wealth Advisors Inc. lifted its position in shares of Lennar by 31.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,802 shares of the construction company’s stock worth $1,686,000 after purchasing an additional 2,332 shares in the last quarter. Finally, Redwood Investment Management LLC purchased a new position in Lennar during the first quarter valued at approximately $1,546,000. Institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

LEN has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Bank Of America (Bofa) boosted their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods boosted their price target on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Barclays raised their price objective on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $180.56.

Lennar Stock Performance

Shares of NYSE LEN opened at $178.70 on Tuesday. Lennar Co. has a 12 month low of $125.17 and a 12 month high of $193.80. The company has a market cap of $48.47 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.58 and a beta of 1.62. The business’s 50 day moving average is $177.90 and its two-hundred day moving average is $169.46. 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 announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The business had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. Lennar’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.91 earnings per share. On average, equities analysts expect that Lennar Co. will post 14.18 EPS for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.12%. Lennar’s dividend payout ratio (DPR) is 13.25%.

Insiders Place Their Bets

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were 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 directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.