Camden National Bank Acquires New Position in Lennar Co. (NYSE:LEN)

Camden National Bank bought a new stake in Lennar Co. (NYSE:LEN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,335 shares of the construction company’s stock, valued at approximately $250,000.

Several other hedge funds have also made changes to their positions in LEN. Boston Partners raised its holdings in Lennar by 21.5% in the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock valued at $4,089,000 after buying an additional 4,207 shares during the period. International Assets Investment Management LLC raised its stake in shares of Lennar by 23,048.0% in the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock valued at $28,209,000 after acquiring an additional 149,812 shares during the period. Fulton Bank N.A. purchased a new position in shares of Lennar during the 2nd quarter worth approximately $477,000. Bayesian Capital Management LP acquired a new stake in Lennar in the 1st quarter valued at approximately $996,000. Finally, Tidal Investments LLC raised its position in Lennar by 91.1% in the first quarter. Tidal Investments LLC now owns 14,318 shares of the construction company’s stock valued at $2,456,000 after purchasing an additional 6,824 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Up 0.7 %

Shares of NYSE:LEN opened at $169.17 on Friday. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The firm has a 50 day simple moving average of $178.07 and a 200-day simple moving average of $169.25. The company has a market capitalization of $45.89 billion, a PE ratio of 11.20, a P/E/G ratio of 1.57 and a beta of 1.62. Lennar Co. has a twelve month low of $125.17 and a twelve month high of $193.80.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter in the prior year, the firm posted $3.91 earnings per share. Lennar’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts predict that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.25%.

Analyst Ratings Changes

LEN has been the topic of several research analyst reports. JMP Securities boosted their price objective on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Wednesday, September 25th. Wedbush reissued a “neutral” rating and set a $144.00 price target on shares of Lennar in a research report on Friday, September 20th. Royal Bank of Canada lifted their price objective on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Finally, Bank Of America (Bofa) upped their price objective on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. 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’s stock. Based on data from MarketBeat, Lennar presently has an average rating of “Hold” and a consensus price target of $180.56.

Insider Activity

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction on 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 transaction, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Lennar 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.