TKG Advisors LLC Grows Holdings in Lennar Co. (NYSE:LEN)

TKG Advisors LLC raised its position in Lennar Co. (NYSE:LEN) by 70.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,747 shares of the construction company’s stock after buying an additional 1,131 shares during the period. TKG Advisors LLC’s holdings in Lennar were worth $515,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Oakworth Capital Inc. acquired a new stake in Lennar during the 3rd quarter valued at approximately $27,000. Wolff Wiese Magana LLC boosted its stake in shares of Lennar by 933.3% during the 3rd 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. GHP Investment Advisors Inc. acquired a new stake in shares of Lennar during the third quarter worth approximately $30,000. J.Safra Asset Management Corp bought a new stake in shares of Lennar in the first quarter worth $30,000. Finally, Asset Dedication LLC raised its holdings in 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 acquiring an additional 169 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LEN shares. Bank of America boosted 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 Thursday, September 19th. Royal Bank of Canada boosted their price objective on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods upped their price objective on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Barclays lifted their target price on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Citigroup upped their price target on Lennar from $164.00 to $196.00 and gave the company a “neutral” 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $181.11.

Insider Transactions at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.36% of the company’s stock.

Lennar Stock Performance

Shares of LEN traded up $5.19 during trading hours on Monday, reaching $174.85. 191,078 shares of the company’s stock traded hands, compared to its average volume of 2,047,829. The firm has a market capitalization of $47.43 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.59 and a beta of 1.62. The business’s fifty day simple moving average is $181.34 and its two-hundred day simple moving average is $167.76. Lennar Co. has a twelve month low of $116.62 and a twelve month high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $9.14 billion. During the same period in the previous year, the firm earned $3.91 EPS. Lennar’s revenue was up 7.9% on a year-over-year basis. Analysts predict that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 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.