Patton Fund Management Inc. Purchases 6,487 Shares of Lennar Co. (NYSE:LEN)

Patton Fund Management Inc. raised its holdings in shares of Lennar Co. (NYSE:LEN - Free Report) by 23.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,619 shares of the construction company's stock after purchasing an additional 6,487 shares during the period. Lennar accounts for 1.3% of Patton Fund Management Inc.'s portfolio, making the stock its 21st largest position. Patton Fund Management Inc.'s holdings in Lennar were worth $6,303,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Rise Advisors LLC raised its holdings in Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company's stock worth $25,000 after buying an additional 121 shares during the last quarter. Wolff Wiese Magana LLC lifted its position in Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company's stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in Lennar during the 1st quarter valued at $30,000. New Covenant Trust Company N.A. bought a new stake in shares of Lennar in the 1st quarter worth $32,000. Finally, Asset Dedication LLC raised its stake in shares of Lennar by 4,225.0% in 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 last quarter. 81.10% of the stock is owned by institutional investors.

Lennar Price Performance

Shares of NYSE:LEN traded down $2.91 during midday trading on Thursday, reaching $185.50. 1,642,005 shares of the company were exchanged, compared to its average volume of 2,054,545. The stock has a market cap of $50.94 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61. The business's fifty day moving average is $180.85 and its two-hundred day moving average is $166.49. Lennar Co. has a one year low of $102.90 and a one year 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 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. The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business's revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.91 EPS. As a group, analysts predict that Lennar Co. will post 14.28 earnings per share for the current year.

Lennar Dividend Announcement

The company 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 of this dividend is Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.08%. Lennar's dividend payout ratio (DPR) is 13.60%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LEN. JMP Securities lifted their price objective on Lennar from $170.00 to $210.00 and gave the stock a "market outperform" rating in a report on Wednesday, September 25th. Raymond James cut shares of Lennar from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 2nd. Royal Bank of Canada boosted their target price on shares of Lennar from $145.00 to $160.00 and gave the company an "underperform" rating in a research note on Monday, September 23rd. Barclays boosted their price target on Lennar from $177.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. Finally, Citigroup upped their target price on shares of Lennar from $164.00 to $196.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Lennar has an average rating of "Hold" and an average price target of $181.11.

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.