Navellier & Associates Inc. Invests $594,000 in Lennar Co. (NYSE:LEN)

Navellier & Associates Inc. acquired a new position in Lennar Co. (NYSE:LEN - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,170 shares of the construction company's stock, valued at approximately $594,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Oakworth Capital Inc. acquired a new position in Lennar during the third quarter worth $27,000. Wolff Wiese Magana LLC lifted its stake in Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company's stock worth $29,000 after acquiring an additional 140 shares in the last quarter. GHP Investment Advisors Inc. acquired a new position in Lennar in the 3rd quarter valued at about $30,000. Asset Dedication LLC increased its stake in Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company's stock worth $32,000 after purchasing an additional 169 shares during the period. Finally, DT Investment Partners LLC lifted its position in shares of Lennar by 523.3% during the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company's stock worth $35,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LEN shares. Wedbush reaffirmed a "neutral" rating and set a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. Citigroup upped their price objective on Lennar from $164.00 to $196.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on Lennar from $154.00 to $173.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. Bank of America upped their price target on Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, September 19th. Finally, 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. Two equities research 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 MarketBeat.com, Lennar has an average rating of "Hold" and an average target price of $180.56.

Lennar Price Performance

Shares of NYSE:LEN traded up $1.10 on Friday, hitting $169.17. The company had a trading volume of 1,804,118 shares, compared to its average volume of 2,041,880. The company has a market cap of $45.89 billion, a PE ratio of 11.20, a PEG ratio of 1.58 and a beta of 1.62. The business has a 50 day moving average of $178.07 and a 200 day moving average of $169.20. Lennar Co. has a 52-week low of $125.17 and a 52-week high of $193.80. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $9.14 billion. During the same period in the previous year, the firm posted $3.91 earnings per share. The company's quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current fiscal 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 issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Wednesday, October 9th. Lennar's dividend payout ratio (DPR) is 13.25%.

Insider Activity at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director now owns 23,689 shares of the company's stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.