Lennar Co. (NYSE:LEN) Shares Acquired by Bamco Inc. NY

Bamco Inc. NY grew its holdings in Lennar Co. (NYSE:LEN - Free Report) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 711,023 shares of the construction company's stock after acquiring an additional 17,834 shares during the quarter. Bamco Inc. NY owned 0.26% of Lennar worth $133,303,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LEN. The Manufacturers Life Insurance Company raised its stake in Lennar by 1.3% during the third quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company's stock worth $1,106,798,000 after acquiring an additional 73,638 shares in the last quarter. Pacer Advisors Inc. boosted its position in Lennar by 15.1% during the second 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 during the last quarter. Smead Capital Management Inc. increased its holdings in Lennar by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company's stock worth $499,991,000 after purchasing an additional 89,896 shares in the last quarter. D1 Capital Partners L.P. lifted 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 during the period. Finally, Marshall Wace LLP grew 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 valued at $302,084,000 after buying an additional 348,553 shares during the period. Institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Zelman & Associates upgraded shares of Lennar from a "neutral" rating to an "outperform" rating in a report on Monday, September 23rd. Bank of America lifted their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Evercore ISI reduced their target price on Lennar from $240.00 to $236.00 and set an "outperform" rating for the company in a report on Monday, September 23rd. StockNews.com lowered Lennar from a "buy" rating to a "hold" rating in a report on Saturday, September 28th. Finally, Keefe, Bruyette & Woods upped their price objective on Lennar from $183.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, September 4th. Two equities 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. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $184.29.

Lennar Stock Down 0.3 %

Shares of LEN stock traded down $0.54 during midday trading on Monday, reaching $173.85. 810,264 shares of the stock were exchanged, compared to its average volume of 2,032,628. The firm has a market cap of $47.16 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.63 and a beta of 1.62. 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 company's 50 day moving average is $176.77 and its two-hundred day moving average is $169.72. 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 issued its 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 business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the previous year, the firm earned $3.91 EPS. Lennar's revenue was up 7.9% on a year-over-year basis. On average, equities research analysts predict that Lennar Co. will post 14.18 EPS for the current year.

Lennar Announces Dividend

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

Insiders Place Their Bets

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.