LMR Partners LLP Invests $4.80 Million in Lennar Co. (NYSE:LEN)

LMR Partners LLP acquired a new position in Lennar Co. (NYSE:LEN - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 25,587 shares of the construction company's stock, valued at approximately $4,797,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LEN. Boston Partners lifted its holdings in shares of Lennar by 21.5% during the first quarter. Boston Partners now owns 23,775 shares of the construction company's stock valued at $4,089,000 after purchasing an additional 4,207 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Lennar by 23,048.0% during the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company's stock valued at $28,209,000 after acquiring an additional 149,812 shares during the last quarter. Fulton Bank N.A. purchased a new position in shares of Lennar during the second quarter valued at approximately $477,000. Bayesian Capital Management LP bought a new position in Lennar during the first quarter valued at approximately $996,000. Finally, Tidal Investments LLC boosted its holdings in Lennar by 91.1% in the first quarter. Tidal Investments LLC now owns 14,318 shares of the construction company's stock worth $2,456,000 after purchasing an additional 6,824 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LEN has been the topic of several research analyst reports. Bank Of America (Bofa) increased their price target on Lennar from $171.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, September 20th. Keefe, Bruyette & Woods boosted their price target on Lennar from $183.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, September 4th. Evercore ISI reduced their price target on shares of Lennar from $240.00 to $236.00 and set an "outperform" rating for the company in a research report on Monday, September 23rd. JMP Securities boosted their target price on shares of Lennar from $170.00 to $210.00 and gave the company a "market outperform" rating in a research report on Wednesday, September 25th. Finally, The Goldman Sachs Group cut shares of Lennar from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $180.00 to $174.00 in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $180.56.

Insider Activity

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.36% of the company's stock.

Lennar Price Performance

Shares of LEN traded up $0.84 during mid-day trading on Tuesday, hitting $168.76. 1,912,923 shares of the stock were exchanged, compared to its average volume of 2,047,101. The firm has a 50-day moving average of $179.10 and a two-hundred day moving average of $169.08. Lennar Co. has a 52-week low of $125.17 and a 52-week high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The company has a market cap of $45.77 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62.

Lennar (NYSE:LEN - Get Free Report) last released 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. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same quarter last year, the business earned $3.91 earnings per share. Lennar's quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts predict that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.19%. Lennar's dividend payout ratio (DPR) is presently 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.