Oak Harvest Investment Services purchased a new position in Lennar Co. (NYSE:LEN – Free Report) during the third quarter, HoldingsChannel.com reports. The fund purchased 4,375 shares of the construction company’s stock, valued at approximately $820,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LEN. Pacer Advisors Inc. raised its position in shares of Lennar by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after purchasing an additional 396,951 shares during the last quarter. D1 Capital Partners L.P. grew its holdings 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 valued at $362,685,000 after buying an additional 1,962,447 shares during the last quarter. 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 valued at $302,084,000 after acquiring an additional 348,553 shares in the last quarter. Nordea Investment Management AB lifted its position in Lennar by 3.6% in the 1st quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after acquiring an additional 60,713 shares in the last quarter. Finally, Eminence Capital LP increased its holdings in shares of Lennar by 14.6% in the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after purchasing an additional 83,316 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.
Insider Buying and Selling
In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the sale, the director now owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 9.36% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on Lennar
Lennar Trading Up 0.9 %
LEN stock opened at $171.60 on Thursday. 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 has a market capitalization of $46.55 billion, a PE ratio of 11.67, a P/E/G ratio of 1.62 and a beta of 1.61. The firm’s 50-day moving average is $181.82 and its 200 day moving average is $167.43. Lennar Co. has a 12 month low of $104.68 and a 12 month high of $193.80.
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 (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.91 earnings per share. On average, research analysts anticipate that Lennar Co. will post 14.18 EPS for the current year.
Lennar Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. Lennar’s dividend payout ratio is currently 13.60%.
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.
Recommended Stories
- Five stocks we like better than Lennar
- Following Congress Stock Trades
- Applied Materials vs ASML: Which is the Best Chip Stock to Own?
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- Top Bill Gates Stock Picks Every Investor Should Know About
- Bank Stocks – Best Bank Stocks to Invest In
- Viking Therapeutics Stock: A Pre-Election Bet Worth Considering
Want to see what other hedge funds are holding LEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lennar Co. (NYSE:LEN – Free Report).
Receive News & Ratings for Lennar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar and related companies with MarketBeat.com's FREE daily email newsletter.