Crestmont Private Wealth LLC Invests $223,000 in Lennar Co. (NYSE:LEN)

Crestmont Private Wealth LLC bought a new position in shares of Lennar Co. (NYSE:LEN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,189 shares of the construction company’s stock, valued at approximately $223,000.

A number of other institutional investors have also recently added to or reduced their stakes in LEN. Pacer Advisors Inc. grew 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 purchasing an additional 396,951 shares during the last quarter. D1 Capital Partners L.P. increased its stake in shares of Lennar by 428.9% in 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 period. Marshall Wace LLP raised 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 worth $302,084,000 after acquiring an additional 348,553 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Lennar by 3.6% during the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock worth $303,585,000 after acquiring an additional 60,713 shares during the last quarter. Finally, Eminence Capital LP lifted its stake in shares of Lennar by 14.6% in the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after acquiring an additional 83,316 shares during the period. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LEN shares. Keefe, Bruyette & Woods increased their target price on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. BTIG Research lowered their target price on shares of Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Argus increased their price target on Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Wells Fargo & Company lowered Lennar from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $205.00 to $190.00 in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $181.11.

Lennar Stock Performance

Shares of LEN stock opened at $178.19 on Friday. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $193.80. The firm has a market capitalization of $48.93 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61. The firm has a fifty day simple moving average of $179.93 and a two-hundred day simple moving average of $166.20. 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 (NYSE:LEN) last posted its earnings results 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. The company had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.91 EPS. Analysts forecast that Lennar Co. will post 14.28 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.12%. Lennar’s payout ratio 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.