MBB Public Markets I LLC Buys Shares of 17,739 Lennar Co. (NYSE:LEN)

MBB Public Markets I LLC purchased a new stake in Lennar Co. (NYSE:LEN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,739 shares of the construction company's stock, valued at approximately $2,659,000.

Several other institutional investors and hedge funds also recently modified their holdings of LEN. DoubleLine ETF Adviser LP acquired a new position in Lennar during the second quarter worth $1,004,000. Eminence Capital LP boosted its stake in shares of Lennar by 14.6% during the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company's stock worth $98,220,000 after buying an additional 83,316 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of Lennar by 183.7% in the 2nd quarter. APG Asset Management N.V. now owns 29,345 shares of the construction company's stock valued at $4,104,000 after acquiring an additional 19,000 shares in the last quarter. Ariel Investments LLC bought a new stake in Lennar during the second quarter worth about $23,518,000. Finally, Alpha DNA Investment Management LLC boosted its position in Lennar by 30.9% during the second quarter. Alpha DNA Investment Management LLC now owns 3,387 shares of the construction company's stock valued at $508,000 after purchasing an additional 799 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on LEN shares. Zelman & Associates raised Lennar from a "neutral" rating to an "outperform" rating in a research report on Monday, September 23rd. JMP Securities upped their price target on shares of Lennar from $170.00 to $210.00 and gave the stock a "market outperform" rating in a research report on Wednesday. Barclays lifted their price objective on shares of Lennar from $177.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Bank Of America (Bofa) upped their target price on shares of Lennar from $171.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, September 20th. Finally, Bank of America lifted 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $181.94.

Lennar Stock Performance

NYSE:LEN traded up $3.98 during mid-day trading on Friday, reaching $187.03. 1,758,464 shares of the company's stock were exchanged, compared to its average volume of 2,084,684. 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 firm has a market capitalization of $51.36 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. Lennar Co. has a one year low of $102.90 and a one year high of $193.80. The business's fifty day simple moving average is $178.25 and its two-hundred day simple moving average is $164.70.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating 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 company 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 business earned $3.91 earnings per share. The firm's quarterly revenue was up 7.9% on a year-over-year basis. Analysts anticipate that Lennar Co. will post 14.13 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, October 9th. Lennar's payout ratio is currently 13.60%.

About Lennar

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.