614,620 Shares in Lennar Co. (NYSE:LEN) Acquired by Holocene Advisors LP

Holocene Advisors LP purchased a new stake in Lennar Co. (NYSE:LEN) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 614,620 shares of the construction company’s stock, valued at approximately $115,229,000.

Several other hedge funds have also made changes to their positions in the business. Oakworth Capital Inc. purchased a new stake in Lennar in the third quarter valued at approximately $27,000. Wolff Wiese Magana LLC grew its stake in shares of Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after buying an additional 140 shares during the period. GHP Investment Advisors Inc. acquired a new stake in shares of Lennar during the 3rd quarter worth $30,000. Asset Dedication LLC raised its position in shares of Lennar by 4,225.0% in the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after buying an additional 169 shares during the period. Finally, Fortitude Family Office LLC boosted its holdings in Lennar by 223.6% in the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after acquiring an additional 161 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Price Performance

Shares of NYSE:LEN opened at $174.39 on Monday. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $176.77 and a 200 day simple moving average of $169.72. Lennar Co. has a fifty-two week low of $130.29 and a fifty-two week high of $193.80. The company has a market cap of $47.30 billion, a PE ratio of 11.55, a P/E/G ratio of 1.63 and a beta of 1.62.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping 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 business had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter last year, the company earned $3.91 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Lennar Co. will post 14.18 EPS for the current year.

Lennar Announces Dividend

The company also recently disclosed 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 was Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.15%. Lennar’s dividend payout ratio (DPR) is 13.25%.

Analyst Ratings Changes

A number of analysts recently issued reports on LEN shares. Bank Of America (Bofa) increased their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Evercore ISI cut their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research note on Monday, September 23rd. JMP Securities upped their price target on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $184.29.

Insiders Place Their Bets

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 9.36% of the stock is owned by company 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.