Lennar Co. (NYSE:LEN) Shares Acquired by Quarry LP

Quarry LP raised its holdings in shares of Lennar Co. (NYSE:LEN) by 136.7% during the third quarter, HoldingsChannel.com reports. The firm owned 232 shares of the construction company’s stock after buying an additional 134 shares during the period. Quarry LP’s holdings in Lennar were worth $43,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Readystate Asset Management LP acquired a new position in shares of Lennar in the 3rd quarter valued at $652,000. Redwood Investment Management LLC increased its position in shares of Lennar by 1.3% in the 3rd quarter. Redwood Investment Management LLC now owns 9,628 shares of the construction company’s stock valued at $1,801,000 after acquiring an additional 128 shares during the period. Prana Capital Management LP increased its position in shares of Lennar by 68.6% in the 3rd quarter. Prana Capital Management LP now owns 288,661 shares of the construction company’s stock valued at $54,118,000 after acquiring an additional 117,430 shares during the period. Miller Investment Management LP increased its position in shares of Lennar by 11.2% in the 3rd quarter. Miller Investment Management LP now owns 101,070 shares of the construction company’s stock valued at $18,949,000 after acquiring an additional 10,199 shares during the period. Finally, Integrated Wealth Concepts LLC increased its position in shares of Lennar by 5.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,557 shares of the construction company’s stock valued at $3,666,000 after acquiring an additional 1,092 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on LEN shares. Royal Bank of Canada upped their price target on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. Bank Of America (Bofa) upped their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Citigroup increased their target price on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, Wells Fargo & Company lowered their target price on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $184.29.

Lennar Trading Down 2.6 %

LEN opened at $161.66 on Wednesday. The firm has a market capitalization of $43.85 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The company’s 50 day simple moving average is $174.76 and its two-hundred day simple moving average is $170.01. Lennar Co. has a 1-year low of $137.95 and a 1-year high of $193.80.

Lennar (NYSE:LEN) last released its quarterly 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 for the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.91 EPS. Analysts expect that Lennar Co. will post 14.11 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Insider Buying and Selling at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the sale, the director now owns 23,689 shares of the company’s stock, valued at $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.36% of the stock is owned by corporate insiders.

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.