Schrum Private Wealth Management LLC Invests $476,000 in Lennar Co. (NYSE:LEN)

Schrum Private Wealth Management LLC purchased a new stake in shares of Lennar Co. (NYSE:LEN) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,540 shares of the construction company’s stock, valued at approximately $476,000.

Other large investors have also recently added to or reduced their stakes in the company. D1 Capital Partners L.P. raised its stake in Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after acquiring an additional 1,962,447 shares during the period. Pacer Advisors Inc. raised its position in shares of Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after purchasing an additional 396,951 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of Lennar in the 1st quarter worth approximately $61,807,000. Jacobs Levy Equity Management Inc. boosted its position in Lennar by 157.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock valued at $98,889,000 after purchasing an additional 351,698 shares during the period. Finally, Marshall Wace LLP increased its position in Lennar by 20.9% in the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after buying an additional 348,553 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Lennar Trading Up 1.0 %

LEN traded up $1.66 during trading on Wednesday, reaching $167.84. The company had a trading volume of 324,018 shares, compared to its average volume of 2,044,336. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar Co. has a 12-month low of $125.17 and a 12-month high of $193.80. The company has a market cap of $45.52 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 1.61 and a beta of 1.62. The firm’s 50-day simple moving average is $179.96 and its 200 day simple moving average is $168.67.

Lennar (NYSE:LEN) last issued 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 net margin of 11.51% and a return on equity of 15.47%. The business 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 earned $3.91 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.19%. Lennar’s dividend payout ratio is 13.25%.

Insider Buying and Selling

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 23,689 shares in the company, valued at $4,148,654.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank of Canada upped their price target on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research report on Monday, September 23rd. JMP Securities raised their price target on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price objective on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group downgraded Lennar from a “buy” rating to a “neutral” rating and cut their target price for the company from $180.00 to $174.00 in a research note on Monday, July 22nd. Finally, Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Two investment 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’s stock. Based on data from MarketBeat, Lennar presently has an average rating of “Hold” and a consensus target price of $180.56.

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.