Headlands Technologies LLC Acquires 3,769 Shares of Lennar Co. (NYSE:LEN)

Headlands Technologies LLC boosted its holdings in Lennar Co. (NYSE:LEN) by 510.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,508 shares of the construction company’s stock after purchasing an additional 3,769 shares during the quarter. Headlands Technologies LLC’s holdings in Lennar were worth $676,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zurich Insurance Group Ltd FI bought a new position in Lennar during the 1st quarter valued at approximately $61,807,000. Jacobs Levy Equity Management Inc. raised its position in shares of Lennar by 157.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock worth $98,889,000 after purchasing an additional 351,698 shares during the last quarter. Swedbank AB bought a new position in Lennar in the 1st quarter worth about $28,998,000. Cercano Management LLC purchased a new stake in Lennar during the 1st quarter valued at about $24,341,000. Finally, Point72 Hong Kong Ltd bought a new stake in Lennar during the 4th quarter valued at about $16,394,000. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

NYSE:LEN opened at $178.19 on Thursday. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $186.60. The business’s 50-day simple moving average is $171.04 and its two-hundred day simple moving average is $162.55. The stock has a market cap of $48.93 billion, a PE ratio of 12.11, a P/E/G ratio of 1.63 and a beta of 1.61.

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

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Friday, July 5th. Lennar’s payout ratio is presently 13.60%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LEN. Royal Bank of Canada reiterated an “underperform” rating and set a $145.00 price target on shares of Lennar in a report on Thursday, June 20th. Keefe, Bruyette & Woods boosted their price target on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Wells Fargo & Company increased their price objective on Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. decreased their target price on Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Finally, Evercore ISI raised their price target on shares of Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $172.69.

Lennar Company 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.