Bayesian Capital Management LP Purchases New Shares in Lennar Co. (NYSE:LEN)

Bayesian Capital Management LP purchased a new stake in Lennar Co. (NYSE:LEN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,791 shares of the construction company’s stock, valued at approximately $996,000.

A number of other hedge funds have also recently added to or reduced their stakes in LEN. Benjamin Edwards Inc. increased its position in shares of Lennar by 7.2% in the fourth quarter. Benjamin Edwards Inc. now owns 1,027 shares of the construction company’s stock worth $153,000 after purchasing an additional 69 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Lennar by 1.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock valued at $663,000 after buying an additional 70 shares during the period. Nilsine Partners LLC lifted its holdings in shares of Lennar by 1.7% during the 1st quarter. Nilsine Partners LLC now owns 4,554 shares of the construction company’s stock worth $783,000 after acquiring an additional 75 shares during the period. Savant Capital LLC boosted its position in shares of Lennar by 0.9% during the 4th quarter. Savant Capital LLC now owns 8,361 shares of the construction company’s stock worth $1,246,000 after acquiring an additional 78 shares in the last quarter. Finally, RFG Advisory LLC raised its holdings in shares of Lennar by 2.1% during the 4th quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock worth $573,000 after buying an additional 79 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling

In related news, VP Mark Sustana sold 9,176 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $164.88, for a total value of $1,512,938.88. Following the completion of the sale, the vice president now owns 16,768 shares in the company, valued at $2,764,707.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Mark Sustana sold 9,176 shares of Lennar stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $164.88, for a total value of $1,512,938.88. Following the completion of the sale, the vice president now directly owns 16,768 shares in the company, valued at $2,764,707.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the transaction, the executive vice president now directly owns 128,629 shares in the company, valued at approximately $20,927,938.30. The disclosure for this sale can be found here. Insiders have sold 29,176 shares of company stock valued at $4,841,039 in the last 90 days. Company insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LEN. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Argus boosted their price target on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Evercore ISI increased their price objective on Lennar from $237.00 to $240.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $183.00 price objective on shares of Lennar in a research report on Tuesday, June 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $167.88.

Lennar Price Performance

Shares of NYSE:LEN traded down $2.39 during midday trading on Wednesday, reaching $178.06. 116,166 shares of the company were exchanged, compared to its average volume of 2,136,814. Lennar Co. has a one year low of $102.90 and a one year high of $181.55. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average is $156.70 and its two-hundred day moving average is $157.27. The stock has a market cap of $48.90 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.60.

Lennar (NYSE:LEN) last released its earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.18. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. As a group, analysts predict that Lennar Co. will post 14.16 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.12%. The ex-dividend date was Friday, July 5th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

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.