3Chopt Investment Partners LLC Buys New Stake in Lennar Co. (NYSE:LEN)

3Chopt Investment Partners LLC acquired a new position in shares of Lennar Co. (NYSE:LEN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,029 shares of the construction company's stock, valued at approximately $904,000.

Several other institutional investors have also recently made changes to their positions in LEN. Gilbert & Cook Inc. raised its holdings in shares of Lennar by 5.5% in the 4th quarter. Gilbert & Cook Inc. now owns 4,053 shares of the construction company's stock worth $604,000 after acquiring an additional 211 shares during the last quarter. Scotia Capital Inc. lifted its holdings in shares of Lennar by 1.6% in the fourth quarter. Scotia Capital Inc. now owns 6,661 shares of the construction company's stock valued at $993,000 after purchasing an additional 103 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Lennar by 17.3% during the fourth quarter. Bank of Nova Scotia now owns 49,724 shares of the construction company's stock valued at $7,411,000 after buying an additional 7,350 shares during the last quarter. Eagle Asset Management Inc. raised its position in Lennar by 26.8% in the 4th quarter. Eagle Asset Management Inc. now owns 51,935 shares of the construction company's stock valued at $7,740,000 after buying an additional 10,979 shares during the last quarter. Finally, KBC Group NV lifted its stake in Lennar by 145.0% during the 4th quarter. KBC Group NV now owns 65,448 shares of the construction company's stock valued at $9,755,000 after acquiring an additional 38,737 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Up 0.4 %

LEN traded up $0.82 during trading on Tuesday, reaching $188.30. The stock had a trading volume of 2,202,885 shares, compared to its average volume of 2,081,608. The stock's 50 day moving average is $178.55 and its two-hundred day moving average is $164.94. The company has a market capitalization of $51.71 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 1.71 and a beta of 1.61. 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 Co. has a one year low of $102.90 and a one year high of $193.80.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly 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. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm 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 quarterly revenue was up 7.9% compared to the same quarter last year. As a group, analysts expect that Lennar Co. will post 14.13 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. Lennar's payout ratio is 13.60%.

Analyst Ratings Changes

A number of brokerages have issued reports on LEN. JPMorgan Chase & Co. lifted their price target on shares of Lennar from $154.00 to $173.00 and gave the stock a "neutral" rating in a report on Monday, September 23rd. BTIG Research dropped their price target on Lennar from $177.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, June 20th. Argus lifted their price objective on Lennar from $175.00 to $180.00 and gave the stock a "buy" rating in a report on Thursday, June 27th. Raymond James downgraded shares of Lennar from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group downgraded shares of Lennar from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $180.00 to $174.00 in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $181.94.

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.