Catalina Capital Group LLC Purchases Shares of 1,310 Lennar Co. (NYSE:LEN)

Catalina Capital Group LLC acquired a new stake in Lennar Co. (NYSE:LEN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,310 shares of the construction company’s stock, valued at approximately $246,000.

Other hedge funds have also recently made changes to their positions in the company. D1 Capital Partners L.P. raised its stake in shares of Lennar by 428.9% in the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after purchasing an additional 1,962,447 shares during the last quarter. Pacer Advisors Inc. raised 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. Zurich Insurance Group Ltd FI bought a new position in Lennar during the 1st quarter valued at $61,807,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Lennar by 157.5% in 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 in the last quarter. Finally, Marshall Wace LLP raised 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 last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LEN shares. Royal Bank of Canada upped their price objective on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research report on Monday, September 23rd. Evercore ISI decreased their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Wells Fargo & Company cut Lennar from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $205.00 to $190.00 in a research report on Monday, October 7th. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Finally, Bank of America increased their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lennar currently has an average rating of “Hold” and a consensus target price of $181.11.

Lennar Stock Down 4.8 %

LEN opened at $168.70 on Thursday. 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 Co. has a one year low of $118.58 and a one year high of $193.80. The firm has a market capitalization of $45.76 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 1.62 and a beta of 1.62. The company has a fifty day moving average price of $180.77 and a 200-day moving average price of $168.09.

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. The firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.91 EPS. Equities research analysts expect that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Insider Activity

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.36% of the company’s stock.

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.