1,180 Shares in Lennar Co. (NYSE:LEN) Bought by Riverstone Advisors LLC

Riverstone Advisors LLC purchased a new stake in shares of Lennar Co. (NYSE:LEN) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,180 shares of the construction company’s stock, valued at approximately $221,000.

Other large investors have also made changes to their positions in the company. Norden Group LLC purchased a new position in shares of Lennar in the first quarter worth $349,000. GSA Capital Partners LLP purchased a new stake in Lennar in the 1st quarter worth $702,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Lennar by 56.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,965 shares of the construction company’s stock valued at $1,198,000 after purchasing an additional 2,517 shares during the last quarter. Wealthspire Advisors LLC purchased a new position in shares of Lennar during the first quarter valued at about $207,000. Finally, Forsta AP Fonden increased its holdings in shares of Lennar by 12.1% in the first quarter. Forsta AP Fonden now owns 47,400 shares of the construction company’s stock worth $8,152,000 after purchasing an additional 5,100 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company cut their price target on Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Citigroup upped their price target on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Barclays lifted their price objective on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Wedbush restated a “neutral” rating and set a $144.00 target price on shares of Lennar in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $180.56.

Insiders Place Their Bets

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.36% of the stock is owned by company insiders.

Lennar Trading Up 0.7 %

Shares of NYSE LEN opened at $172.58 on Friday. Lennar Co. has a twelve month low of $118.92 and a twelve month high of $193.80. The firm has a market cap of $46.81 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. The business has a fifty day simple moving average of $180.40 and a two-hundred day simple moving average of $168.26. 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 released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The company had revenue of $9.42 billion during 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%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.91 earnings per share. Analysts expect that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is 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.