Boston Family Office LLC Increases Position in Lennar Co. (NYSE:LEN)

Boston Family Office LLC grew its holdings in Lennar Co. (NYSE:LEN) by 4.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,841 shares of the construction company’s stock after acquiring an additional 150 shares during the quarter. Boston Family Office LLC’s holdings in Lennar were worth $720,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in LEN. D1 Capital Partners L.P. raised its holdings in shares of Lennar by 428.9% in the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after buying an additional 1,962,447 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Lennar by 15.1% in the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after buying an additional 396,951 shares during the last quarter. KBC Group NV raised its holdings in Lennar by 258.3% during the third quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock worth $92,774,000 after purchasing an additional 356,731 shares in the last quarter. Marshall Wace LLP raised its holdings in Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after purchasing an additional 348,553 shares in the last quarter. Finally, Swedbank AB purchased a new position in Lennar during the first quarter worth about $28,998,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Up 5.6 %

LEN stock opened at $178.70 on Tuesday. The company’s 50 day simple moving average is $177.90 and its 200-day simple moving average is $169.46. The firm has a market capitalization of $48.47 billion, a PE ratio of 11.83, a P/E/G ratio of 1.58 and a beta of 1.62. Lennar Co. has a 12 month low of $125.17 and a 12 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, beating the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion for 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 company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.91 earnings per share. Equities analysts expect that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LEN. Keefe, Bruyette & Woods increased their price target on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Evercore ISI cut their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Citigroup increased their price target on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Bank of America increased their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $180.56.

Insider Activity at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.