Jacobs Levy Equity Management Inc. Has $129.72 Million Stock Position in Lennar Co. (NYSE:LEN)

Jacobs Levy Equity Management Inc. boosted its holdings in Lennar Co. (NYSE:LEN) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 691,910 shares of the construction company’s stock after acquiring an additional 3,130 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Lennar were worth $129,719,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LEN. Cetera Investment Advisers grew its stake in shares of Lennar by 54.1% in the first quarter. Cetera Investment Advisers now owns 42,797 shares of the construction company’s stock worth $7,360,000 after purchasing an additional 15,024 shares during the last quarter. Cetera Advisors LLC grew its holdings in Lennar by 342.9% during the 1st quarter. Cetera Advisors LLC now owns 18,830 shares of the construction company’s stock valued at $3,238,000 after purchasing an additional 14,578 shares during the last quarter. First Hawaiian Bank grew its stake in Lennar by 63.2% in the 2nd quarter. First Hawaiian Bank now owns 2,843 shares of the construction company’s stock worth $426,000 after acquiring an additional 1,101 shares in the last quarter. Fulton Bank N.A. purchased a new stake in Lennar during the second quarter valued at approximately $477,000. Finally, Kingswood Wealth Advisors LLC increased its stake in shares of Lennar by 5.8% in the second quarter. Kingswood Wealth Advisors LLC now owns 1,742 shares of the construction company’s stock worth $261,000 after acquiring an additional 96 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 0.5 %

NYSE LEN opened at $173.49 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The company has a market capitalization of $47.06 billion, a P/E ratio of 11.49, a PEG ratio of 1.63 and a beta of 1.61. Lennar Co. has a 12 month low of $130.29 and a 12 month high of $193.80. The company’s 50 day simple moving average is $176.52 and its 200 day simple moving average is $169.78.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $3.91 earnings per share. Equities research analysts expect that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lowered 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, November 7th. JMP Securities increased 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. Bank Of America (Bofa) lifted their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Bank of America increased their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, Barclays boosted their price objective on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $184.29.

Insider Transactions at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’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 value of $3,064,775.00. Following the sale, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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.