Pallas Capital Advisors LLC Acquires Shares of 1,234 Lennar Co. (NYSE:LEN)

Pallas Capital Advisors LLC acquired a new stake in Lennar Co. (NYSE:LEN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,234 shares of the construction company’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position 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 during the last quarter. D1 Capital Partners L.P. raised its stake in shares of Lennar by 428.9% in 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 purchasing an additional 1,962,447 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Lennar by 20.9% in the 2nd 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 in the last quarter. Nordea Investment Management AB raised its stake in shares of Lennar by 3.6% in the 1st quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after purchasing an additional 60,713 shares in the last quarter. Finally, Eminence Capital LP raised its stake in shares of Lennar by 14.6% in the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock valued at $98,220,000 after purchasing an additional 83,316 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Trading Down 0.4 %

Lennar stock opened at $169.70 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The firm has a market cap of $46.03 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.60 and a beta of 1.61. Lennar Co. has a 1 year low of $113.44 and a 1 year high of $193.80. The firm’s 50 day moving average price is $181.34 and its two-hundred day moving average price is $167.54.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share 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 firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same period in the previous year, the company posted $3.91 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, research analysts predict that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.18%. The ex-dividend date was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Insiders Place Their Bets

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the sale, the director now owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Wall Street Analyst Weigh In

LEN has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. JMP Securities increased their price objective on shares of 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 upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Finally, Bank of America increased 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. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Lennar has a consensus rating of “Hold” and a consensus price target of $181.11.

About Lennar

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.