HighVista Strategies LLC Takes $1.44 Million Position in Lennar Co. (NYSE:LEN)

HighVista Strategies LLC bought a new position in shares of Lennar Co. (NYSE:LEN - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,700 shares of the construction company's stock, valued at approximately $1,444,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. D1 Capital Partners L.P. boosted its stake in 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 worth $362,685,000 after purchasing an additional 1,962,447 shares during the last quarter. Holocene Advisors LP acquired a new position in Lennar during the third quarter worth about $115,229,000. Pacer Advisors Inc. grew its stake in Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company's stock valued at $452,886,000 after acquiring an additional 396,951 shares in the last quarter. KBC Group NV grew its holdings in Lennar by 258.3% in the 3rd quarter. KBC Group NV now owns 494,848 shares of the construction company's stock valued at $92,774,000 after buying an additional 356,731 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Lennar by 20.9% in the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company's stock worth $302,084,000 after acquiring an additional 348,553 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Performance

Shares of Lennar stock traded up $0.11 during trading hours on Tuesday, hitting $173.58. 1,391,375 shares of the company were exchanged, compared to its average volume of 2,032,725. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $47.08 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 1.44 and a beta of 1.61. The business has a 50-day moving average of $176.52 and a 200-day moving average of $169.78. Lennar Co. has a 1 year low of $130.29 and a 1 year high of $193.80.

Lennar (NYSE:LEN - Get Free Report) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion for the quarter, compared to analysts' expectations of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.91 EPS. As a group, analysts expect that Lennar Co. will post 14.18 EPS 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 $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar's payout ratio is currently 13.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Lennar from a "buy" rating to a "hold" rating in a research note on Saturday, September 28th. Royal Bank of Canada increased their price target on Lennar from $145.00 to $160.00 and gave the stock an "underperform" rating in a report on Monday, September 23rd. Bank of America upped their target price on shares of Lennar from $171.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th. Citigroup upped their price objective 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, Wedbush reissued a "neutral" rating and set a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $184.29.

Insiders Place Their Bets

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction dated 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 owns 23,689 shares in the company, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.36% of the stock is owned by company insiders.

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.