Lennar Co. (NYSE:LEN) Stake Increased by Versor Investments LP

Versor Investments LP raised its stake in shares of Lennar Co. (NYSE:LEN) by 51.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,200 shares of the construction company’s stock after acquiring an additional 1,421 shares during the quarter. Versor Investments LP’s holdings in Lennar were worth $787,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LEN. Pacer Advisors Inc. increased its holdings in 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. D1 Capital Partners L.P. raised its position in shares of Lennar by 428.9% during the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after acquiring an additional 1,962,447 shares in the last quarter. Marshall Wace LLP boosted its holdings 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 purchasing an additional 348,553 shares during the period. Eminence Capital LP increased its stake in Lennar by 14.6% during the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock valued at $98,220,000 after purchasing an additional 83,316 shares during the last quarter. Finally, Bamco Inc. NY lifted its position in shares of Lennar by 3.8% in the 1st quarter. Bamco Inc. NY now owns 648,867 shares of the construction company’s stock worth $111,592,000 after buying an additional 23,483 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction 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 transaction, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wedbush reiterated a “neutral” rating and set a $144.00 price objective on shares of Lennar in a research note on Friday, September 20th. Wells Fargo & Company dropped their target price on Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Evercore ISI decreased their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods raised their price target on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Two investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $180.56.

Lennar Stock Performance

LEN opened at $166.20 on Wednesday. The business has a fifty day simple moving average of $180.20 and a 200-day simple moving average of $168.59. The firm has a market cap of $45.08 billion, a PE ratio of 11.01, a P/E/G ratio of 1.61 and a beta of 1.62. 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 fifty-two week low of $120.50 and a fifty-two week high of $193.80.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter last year, the business posted $3.91 EPS. Lennar’s revenue was up 7.9% on a year-over-year basis. As a group, 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. Investors 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 1.20%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio is 13.25%.

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.