Lecap Asset Management Ltd. Buys Shares of 2,736 Lennar Co. (NYSE:LEN)

Lecap Asset Management Ltd. acquired a new stake in Lennar Co. (NYSE:LEN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,736 shares of the construction company’s stock, valued at approximately $513,000.

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

Lennar Price Performance

Shares of LEN opened at $175.94 on Friday. The business’s fifty day moving average is $181.94 and its 200 day moving average is $167.02. Lennar Co. has a 12-month low of $102.90 and a 12-month 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. The stock has a market cap of $48.31 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.68 and a beta of 1.61.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $3.91 earnings per share. Sell-side analysts anticipate that Lennar Co. will post 14.28 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.60%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company lowered 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 note on Monday, October 7th. Wedbush reaffirmed a “neutral” rating and issued a $144.00 price objective on shares of Lennar in a research note on Friday, September 20th. Royal Bank of Canada lifted their target price on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Finally, Argus boosted their price objective on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Lennar has a consensus rating of “Hold” and an average 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.