Harvest Fund Management Co. Ltd Raises Stock Position in Lennar Co. (NYSE:LEN)

Harvest Fund Management Co. Ltd raised its position in Lennar Co. (NYSE:LENFree Report) by 155.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,310 shares of the construction company’s stock after acquiring an additional 798 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Lennar were worth $245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in Lennar by 1.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 350,987 shares of the construction company’s stock worth $60,364,000 after buying an additional 6,136 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Lennar by 31.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 9,802 shares of the construction company’s stock worth $1,686,000 after acquiring an additional 2,332 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Lennar by 91.1% during the first quarter. Tidal Investments LLC now owns 14,318 shares of the construction company’s stock valued at $2,456,000 after acquiring an additional 6,824 shares in the last quarter. Plato Investment Management Ltd raised its position in shares of Lennar by 1,060.7% in the 1st quarter. Plato Investment Management Ltd now owns 8,601 shares of the construction company’s stock valued at $1,479,000 after purchasing an additional 7,860 shares during the last quarter. Finally, New Covenant Trust Company N.A. purchased a new stake in Lennar during the 1st quarter worth approximately $32,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.36% of the company’s stock.

Lennar Price Performance

NYSE:LEN opened at $173.35 on Wednesday. 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 Co. has a 52 week low of $125.17 and a 52 week high of $193.80. The stock’s 50-day moving average price is $177.58 and its 200-day moving average price is $169.53. The stock has a market capitalization of $47.02 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62.

Lennar (NYSE:LENGet Free Report) last issued its quarterly earnings data 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 company had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $3.91 earnings per share. As a group, equities analysts expect that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America raised 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. JMP Securities lifted their price target on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Evercore ISI cut their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Lennar currently has a consensus rating of “Hold” and a consensus target price of $180.56.

View Our Latest Stock Report on LEN

Lennar Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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