Lennar Co. (NYSE:LEN) Shares Bought by Tower Bridge Advisors

Tower Bridge Advisors raised its holdings in Lennar Co. (NYSE:LEN) by 0.5% during the 3rd quarter, Holdings Channel reports. The firm owned 68,724 shares of the construction company’s stock after buying an additional 341 shares during the quarter. Lennar makes up about 1.3% of Tower Bridge Advisors’ holdings, making the stock its 22nd largest holding. Tower Bridge Advisors’ holdings in Lennar were worth $12,884,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Boston Partners raised its position in Lennar by 21.5% during the first quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after acquiring an additional 4,207 shares during the period. International Assets Investment Management LLC increased its stake in Lennar by 23,048.0% during the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock worth $28,209,000 after buying an additional 149,812 shares in the last quarter. Fulton Bank N.A. purchased a new position in shares of Lennar in the second quarter valued at approximately $477,000. Rockport Wealth LLC acquired a new stake in shares of Lennar in the first quarter worth approximately $512,000. Finally, Bayesian Capital Management LP acquired a new position in Lennar in the 1st quarter valued at $996,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on LEN shares. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Bank of America boosted their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Keefe, Bruyette & Woods increased their price target on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. raised their target price on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, The Goldman Sachs Group cut shares of Lennar from a “buy” rating to a “neutral” rating and lowered their price target for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Lennar currently has an average rating of “Hold” and an average price target of $180.56.

Lennar Trading Down 0.6 %

NYSE LEN opened at $168.85 on Friday. Lennar Co. has a 52 week low of $125.17 and a 52 week high of $193.80. The firm has a 50 day moving average of $179.35 and a two-hundred day moving average of $168.88. The stock has a market capitalization of $45.80 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion for 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% on a year-over-year basis. During the same quarter last year, the company earned $3.91 EPS. As a group, research analysts expect that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is 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.