5,844 Shares in Lennar Co. (NYSE:LEN) Bought by Jackson Wealth Management LLC

Jackson Wealth Management LLC acquired a new stake in Lennar Co. (NYSE:LEN) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 5,844 shares of the construction company’s stock, valued at approximately $1,096,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. D1 Capital Partners L.P. boosted its position 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 worth $362,685,000 after buying an additional 1,962,447 shares during the period. Pacer Advisors Inc. increased 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 worth $452,886,000 after acquiring an additional 396,951 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Lennar in the first quarter worth $61,807,000. Jacobs Levy Equity Management Inc. increased its position in Lennar by 157.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock worth $98,889,000 after buying an additional 351,698 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after buying an additional 348,553 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Trading Up 1.8 %

NYSE LEN traded up $3.02 during trading on Thursday, hitting $175.59. The company had a trading volume of 340,022 shares, compared to its average volume of 2,046,140. The company’s fifty day moving average is $181.94 and its 200-day moving average is $167.02. The company has a market cap of $48.22 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61. 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 Co. has a one year low of $102.90 and a one year high of $193.80.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter last year, the firm posted $3.91 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts predict that Lennar Co. will post 14.28 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI decreased their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Barclays raised their price objective on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Wedbush reissued a “neutral” rating and issued a $144.00 price target on shares of Lennar in a report on Friday, September 20th. JPMorgan Chase & Co. lifted their price target on shares of Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group lowered 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 note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lennar presently has an average rating of “Hold” and an average target price of $181.11.

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.