Sanctuary Advisors LLC Takes Position in Lennar Co. (NYSE:LEN)

Sanctuary Advisors LLC acquired a new position in shares of Lennar Co. (NYSE:LEN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 39,337 shares of the construction company's stock, valued at approximately $6,069,000.

A number of other large investors have also modified their holdings of LEN. D1 Capital Partners L.P. increased its position in shares of Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company's stock worth $362,685,000 after acquiring an additional 1,962,447 shares during the period. Pacer Advisors Inc. increased its position in shares of Lennar by 15.1% during the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company's stock worth $452,886,000 after acquiring an additional 396,951 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in shares of Lennar during the first quarter worth $61,807,000. Jacobs Levy Equity Management Inc. increased its position in shares of Lennar by 157.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company's stock worth $98,889,000 after acquiring an additional 351,698 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company's stock worth $302,084,000 after acquiring an additional 348,553 shares during the period. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Stock Performance

Shares of LEN traded down $4.65 during mid-day trading on Friday, hitting $182.25. 2,423,118 shares of the company's stock were exchanged, compared to its average volume of 2,077,726. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $193.80. The business's 50 day moving average is $179.65 and its two-hundred day moving average is $165.69. The firm has a market capitalization of $50.05 billion, a P/E ratio of 12.39, 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 (NYSE:LEN - Get Free Report) last announced its quarterly earnings data 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 return on equity of 15.47% and a net margin of 11.51%. The company had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the previous year, the company earned $3.91 EPS. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts expect that Lennar Co. will post 14.13 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Wednesday, October 9th. Lennar's dividend payout ratio is presently 13.60%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LEN shares. Barclays increased their target price on Lennar from $177.00 to $210.00 and gave the company an "overweight" rating 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. Wells Fargo & Company increased their target price on Lennar from $195.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, September 9th. Royal Bank of Canada increased their target price on Lennar from $145.00 to $160.00 and gave the company an "underperform" rating in a report on Monday, September 23rd. Finally, The Goldman Sachs Group lowered Lennar from a "buy" rating to a "neutral" rating and dropped their target price for the company from $180.00 to $174.00 in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $181.94.

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.