HighVista Strategies LLC Makes New $1.44 Million Investment in Lennar Co. (NYSE:LEN)

HighVista Strategies LLC purchased a new position in Lennar Co. (NYSE:LEN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,700 shares of the construction company’s stock, valued at approximately $1,444,000.

Other institutional investors have also added to or reduced their stakes in the company. Oakworth Capital Inc. bought a new position in Lennar in the third quarter worth approximately $27,000. Wolff Wiese Magana LLC raised its position in Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after acquiring an additional 140 shares during the period. GHP Investment Advisors Inc. bought a new position in Lennar in the third quarter worth approximately $30,000. Asset Dedication LLC raised its position in shares of Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after purchasing an additional 169 shares during the period. Finally, Fortitude Family Office LLC raised its position in shares of Lennar by 223.6% during the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after purchasing an additional 161 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction dated 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 transaction, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.36% of the stock is owned by corporate insiders.

Lennar Stock Performance

Shares of NYSE:LEN opened at $173.49 on Tuesday. Lennar Co. has a 52 week low of $130.29 and a 52 week high of $193.80. The stock has a market capitalization of $47.06 billion, a P/E ratio of 11.49, a PEG ratio of 1.63 and a beta of 1.61. The firm has a fifty day simple moving average of $176.52 and a two-hundred day simple moving average of $169.78. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS 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 during the quarter, compared to analysts’ expectations of $9.14 billion. During the same period last year, the company posted $3.91 EPS. The business’s revenue was up 7.9% on a year-over-year basis. On average, analysts expect that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. Lennar’s dividend payout ratio is presently 13.25%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LEN. Citigroup raised their price objective on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods raised their price objective 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. Evercore ISI decreased their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Wells Fargo & Company decreased their price objective on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, Bank Of America (Bofa) lifted their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $184.29.

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.