Lennar Co. (NYSE:LEN) Shares Purchased by DT Investment Partners LLC

DT Investment Partners LLC raised its position in Lennar Co. (NYSE:LEN) by 523.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 187 shares of the construction company’s stock after buying an additional 157 shares during the period. DT Investment Partners LLC’s holdings in Lennar were worth $35,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. D1 Capital Partners L.P. grew its stake in Lennar by 428.9% during the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after acquiring an additional 1,962,447 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Lennar by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after buying an additional 396,951 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Lennar in the 1st quarter worth $61,807,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Lennar by 157.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock worth $98,889,000 after acquiring an additional 351,698 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Lennar by 20.9% in the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after purchasing an additional 348,553 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

LEN has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Bank of America upped their price objective on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. JMP Securities raised their target price on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Finally, Bank Of America (Bofa) boosted their price objective 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 research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lennar presently has an average rating of “Hold” and an average target price of $181.11.

Lennar Stock Performance

Shares of LEN opened at $173.28 on Friday. The stock has a 50-day simple moving average of $182.05 and a 200-day simple moving average of $167.08. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $193.80. The stock has a market capitalization of $47.00 billion, a PE ratio of 11.48, a PEG ratio of 1.62 and a beta of 1.61.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter in the previous year, the business posted $3.91 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. On average, analysts predict that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

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

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.