IMPACTfolio LLC Makes New Investment in Lennar Co. (NYSE:LEN)

IMPACTfolio LLC purchased a new position in Lennar Co. (NYSE:LEN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,114 shares of the construction company’s stock, valued at approximately $209,000.

Several other large investors have also added to or reduced their stakes in the stock. Rise Advisors LLC lifted its position in shares of Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after purchasing an additional 121 shares during the period. J.Safra Asset Management Corp bought a new position in Lennar in the first quarter worth about $30,000. New Covenant Trust Company N.A. purchased a new stake in Lennar in the first quarter worth about $32,000. Redmont Wealth Advisors LLC bought a new stake in Lennar during the 1st quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC grew its holdings 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 worth $35,000 after acquiring an additional 161 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of NYSE LEN opened at $187.20 on Thursday. 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’s 50-day moving average price is $179.23 and its 200-day moving average price is $165.32. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $193.80. The company has a market cap of $51.41 billion, a PE ratio of 12.73, a PEG ratio of 1.71 and a beta of 1.61.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.91 EPS. As a group, analysts anticipate that Lennar Co. will post 14.13 EPS for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. Lennar’s dividend payout ratio is currently 13.60%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Bank Of America (Bofa) upped 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. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Bank of America boosted their price objective on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Evercore ISI lowered their target price 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. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $181.94.

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.