Townsquare Capital LLC Has $3.13 Million Stake in Lennar Co. (NYSE:LEN)

Townsquare Capital LLC increased its position in Lennar Co. (NYSE:LEN) by 2.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 16,718 shares of the construction company’s stock after acquiring an additional 430 shares during the period. Townsquare Capital LLC’s holdings in Lennar were worth $3,134,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Boston Partners boosted its holdings in Lennar by 21.5% in the first quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after purchasing an additional 4,207 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Lennar by 23,048.0% during the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock worth $28,209,000 after acquiring an additional 149,812 shares in the last quarter. Fulton Bank N.A. acquired a new position in shares of Lennar during the 2nd quarter valued at about $477,000. Smead Capital Management Inc. raised its stake in shares of Lennar by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after acquiring an additional 89,896 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Lennar by 8.7% during the third quarter. Asset Management One Co. Ltd. now owns 101,463 shares of the construction company’s stock worth $19,022,000 after purchasing an additional 8,092 shares during the period. 81.10% of the stock is owned by institutional investors.

Lennar Stock Up 0.2 %

NYSE LEN opened at $174.48 on Friday. Lennar Co. has a 1-year low of $125.17 and a 1-year high of $193.80. The company has a market capitalization of $47.33 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.63 and a beta of 1.62. The stock’s 50 day moving average is $176.77 and its two-hundred day moving average is $169.68. 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 (NYSE:LEN) last announced its quarterly 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. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business 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 firm earned $3.91 EPS. Lennar’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts forecast that Lennar Co. will post 14.18 earnings per share for the current fiscal 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 given a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Keefe, Bruyette & Woods upped their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Citigroup lifted their price objective on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Wedbush restated a “neutral” rating and set a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. Finally, Royal Bank of Canada upped their price target on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $184.29.

Insiders Place Their Bets

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. This represents a 42.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.