Lennar Co. (NYSE:LEN) Shares Acquired by FCG Investment Co

FCG Investment Co grew its stake in Lennar Co. (NYSE:LEN) by 7.8% during the third quarter, HoldingsChannel reports. The firm owned 2,189 shares of the construction company’s stock after purchasing an additional 159 shares during the quarter. FCG Investment Co’s holdings in Lennar were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. boosted its stake in shares of Lennar by 15.1% in the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after buying an additional 396,951 shares in the last quarter. D1 Capital Partners L.P. boosted its stake in shares of Lennar by 428.9% in the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after buying an additional 1,962,447 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Lennar by 20.9% in the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after buying an additional 348,553 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Lennar by 3.6% in the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after buying an additional 60,713 shares in the last quarter. Finally, Eminence Capital LP boosted its stake in shares of Lennar by 14.6% in the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock valued at $98,220,000 after buying an additional 83,316 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of analyst reports. The Goldman Sachs Group downgraded Lennar from a “buy” rating to a “neutral” rating and decreased their price target for the company from $180.00 to $174.00 in a research note on Monday, July 22nd. Citigroup lifted their price target on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. JMP Securities boosted their target price on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Bank Of America (Bofa) boosted their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. boosted their target price on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $181.11.

Lennar Stock Performance

Lennar stock opened at $174.00 on Monday. The firm has a market capitalization of $47.20 billion, a P/E ratio of 11.48, a PEG ratio of 1.62 and a beta of 1.61. The stock has a fifty day moving average price of $182.08 and a 200 day moving average price of $167.22. Lennar Co. has a 52 week low of $103.41 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) last released its earnings results 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 firm had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.91 earnings per share. Equities research analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.15%. Lennar’s payout ratio is currently 13.25%.

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.