1,212 Shares in Lennar Co. (NYSE:LEN) Purchased by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC purchased a new stake in shares of Lennar Co. (NYSE:LEN) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,212 shares of the construction company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Boston Partners grew its stake in Lennar by 21.5% in the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after buying an additional 4,207 shares in the last quarter. Norden Group LLC purchased a new stake in Lennar during the first quarter valued at about $5,592,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Lennar by 544.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,248 shares of the construction company’s stock worth $5,890,000 after purchasing an additional 28,935 shares during the last quarter. Fulton Bank N.A. purchased a new position in shares of Lennar in the 2nd quarter worth about $477,000. Finally, Rockport Wealth LLC bought a new position in shares of Lennar during the 1st quarter valued at about $512,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 1.8 %

LEN opened at $188.93 on Monday. The stock has a market cap of $51.88 billion, a PE ratio of 12.84, a PEG ratio of 1.68 and a beta of 1.61. The business has a 50 day moving average of $181.55 and a 200-day moving average of $166.81. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $193.80. 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 released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share 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 firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same period in the prior year, the firm earned $3.91 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that Lennar Co. will post 14.28 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. Lennar’s payout ratio is currently 13.60%.

Analysts Set New Price Targets

Several brokerages have issued reports on LEN. Wedbush reaffirmed a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. Keefe, Bruyette & Woods increased their target price on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Citigroup boosted their price target on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their price objective on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $181.11.

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.