Ballentine Partners LLC Has $590,000 Stock Holdings in Lennar Co. (NYSE:LEN)

Ballentine Partners LLC boosted its holdings in Lennar Co. (NYSE:LEN) by 13.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,147 shares of the construction company’s stock after acquiring an additional 362 shares during the quarter. Ballentine Partners LLC’s holdings in Lennar were worth $590,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Oakworth Capital Inc. acquired a new position in shares of Lennar in the 3rd quarter worth approximately $27,000. Wolff Wiese Magana LLC grew its holdings in shares of Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. J.Safra Asset Management Corp bought a new position in Lennar during the 1st quarter valued at about $30,000. New Covenant Trust Company N.A. bought a new stake in Lennar during the first quarter worth about $32,000. Finally, Asset Dedication LLC raised its stake in shares of Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after acquiring an additional 169 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LEN. Evercore ISI dropped their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Bank of America raised their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Wedbush reiterated a “neutral” rating and set a $144.00 price target on shares of Lennar in a research report on Friday, September 20th. JPMorgan Chase & Co. lifted their target price on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Lennar presently has an average rating of “Hold” and a consensus price target of $181.11.

Lennar Stock Performance

LEN opened at $173.28 on Monday. The company has a market capitalization of $47.00 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.62 and a beta of 1.61. The business’s 50-day moving average price is $182.08 and its two-hundred day moving average price is $167.22. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. The business had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.91 EPS. Equities analysts expect that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

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