1620 Investment Advisors Inc. Raises Holdings in Lennar Co. (NYSE:LEN)

1620 Investment Advisors Inc. boosted its stake in Lennar Co. (NYSE:LEN) by 9.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,318 shares of the construction company’s stock after purchasing an additional 110 shares during the period. 1620 Investment Advisors Inc.’s holdings in Lennar were worth $247,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LEN. Norden Group LLC purchased a new stake in Lennar during the 1st quarter valued at $5,592,000. Van ECK Associates Corp grew its stake in shares of Lennar by 6.6% in the first quarter. Van ECK Associates Corp now owns 40,550 shares of the construction company’s stock worth $6,974,000 after purchasing an additional 2,506 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Lennar by 1.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,222 shares of the construction company’s stock valued at $8,809,000 after purchasing an additional 943 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Lennar by 12.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,227 shares of the construction company’s stock worth $1,243,000 after buying an additional 794 shares during the period. Finally, BNP Paribas bought a new stake in shares of Lennar in the 1st quarter worth approximately $1,479,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LEN. StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Keefe, Bruyette & Woods lifted their target price on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Evercore ISI decreased their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. The Goldman Sachs Group lowered shares of Lennar from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $180.00 to $174.00 in a report on Monday, July 22nd. Finally, Wells Fargo & Company downgraded Lennar from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $205.00 to $190.00 in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $181.11.

Insider Transactions at Lennar

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

Lennar Price Performance

LEN stock opened at $171.60 on Thursday. The company has a market capitalization of $46.55 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.62 and a beta of 1.61. The company’s fifty day moving average price is $181.82 and its 200-day moving average price is $167.43. Lennar Co. has a one year low of $104.68 and a one year high of $193.80. 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 (NYSE:LEN) last released its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter last year, the business posted $3.91 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts anticipate 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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is currently 13.60%.

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.