LMR Partners LLP Invests $4.80 Million in Lennar Co. (NYSE:LEN)

LMR Partners LLP purchased a new position in shares of Lennar Co. (NYSE:LEN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,587 shares of the construction company’s stock, valued at approximately $4,797,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oakworth Capital Inc. bought a new stake in shares of Lennar during the third quarter worth about $27,000. Wolff Wiese Magana LLC boosted its holdings in 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 acquiring an additional 140 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in Lennar in the third quarter valued at approximately $30,000. Asset Dedication LLC boosted 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 during the last quarter. Finally, DT Investment Partners LLC boosted its holdings in Lennar by 523.3% in the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock valued at $35,000 after acquiring an additional 157 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Lennar Trading Down 0.6 %

Shares of NYSE LEN opened at $167.92 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The business’s 50 day moving average price is $179.10 and its 200-day moving average price is $169.08. Lennar Co. has a fifty-two week low of $125.17 and a fifty-two week high of $193.80. The company has a market cap of $45.55 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.58 and a beta of 1.62.

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

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.19%. Lennar’s dividend payout ratio (DPR) is currently 13.25%.

Insider Activity

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on LEN shares. Evercore ISI reduced their target price on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. Royal Bank of Canada upped their target price on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. upped their target price on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Barclays increased their price target on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, JMP Securities increased their price target on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Two equities research 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.com, the stock has an average rating of “Hold” and an average price target of $180.56.

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.