Lennar Corporation $LEN Stock Bought by Element Pointe Advisors LLC

Element Pointe Advisors LLC lifted its stake in shares of Lennar Corporation (NYSE:LEN) by 288.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,200 shares of the construction company’s stock after buying an additional 15,000 shares during the period. Element Pointe Advisors LLC’s holdings in Lennar were worth $1,648,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC raised its position in Lennar by 19.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company’s stock valued at $221,176,000 after buying an additional 419,745 shares during the last quarter. Nan Shan Life Insurance Co. Ltd. lifted its stake in Lennar by 6,292.5% during the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 328,000 shares of the construction company’s stock valued at $29,681,000 after acquiring an additional 322,869 shares in the last quarter. Empowered Funds LLC lifted its stake in Lennar by 322.4% during the 1st quarter. Empowered Funds LLC now owns 309,880 shares of the construction company’s stock valued at $26,910,000 after acquiring an additional 236,524 shares in the last quarter. Entropy Technologies LP purchased a new position in Lennar during the 1st quarter worth $6,855,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Lennar during the 2nd quarter worth $6,077,000. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on LEN. Royal Bank Of Canada reduced their target price on shares of Lennar from $85.00 to $69.00 and set an “underperform” rating for the company in a research note on Friday, September 18th. Benchmark raised shares of Lennar to a “hold” rating in a research report on Thursday, September 3rd. Seaport Research Partners cut their price target on shares of Lennar from $74.00 to $70.00 and set a “sell” rating on the stock in a report on Monday, September 21st. Melius Research initiated coverage on shares of Lennar in a research report on Tuesday, October 6th. They issued a “sell” rating and a $72.00 price objective for the company. Finally, Citigroup reduced their price objective on shares of Lennar from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, September 21st. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $79.00.

Insider Buying and Selling at Lennar

In other news, major shareholder Berkshire Hathaway Inc acquired 1,708,095 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The stock was bought at an average price of $79.44 per share, with a total value of $135,691,066.80. Following the acquisition, the insider owned 28,438,045 shares in the company, valued at $2,259,118,294.80. The trade was a 6.39% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders acquired 7,502,276 shares of company stock worth $595,303,287. 10.05% of the stock is currently owned by corporate insiders.

Lennar Price Performance

Shares of NYSE LEN opened at $77.61 on Thursday. The stock has a fifty day simple moving average of $81.27 and a two-hundred day simple moving average of $85.69. Lennar Corporation has a 1-year low of $71.78 and a 1-year high of $133.76. The firm has a market cap of $18.46 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 2.96 and a beta of 1.36. The company has a current ratio of 4.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.20.

Lennar (NYSE:LEN) last released its earnings results on Wednesday, September 16th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.06). The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $8.32 billion. Lennar had a return on equity of 6.15% and a net margin of 4.09%. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.00 earnings per share. Analysts anticipate that Lennar Corporation will post 4.87 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Wednesday, October 7th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. Lennar’s dividend payout ratio is presently 37.81%.

Lennar Company Profile

Lennar Corporation (NYSE:LEN) is a homebuilding and real estate company that develops, constructs, and sells primarily single-family homes. The company offers homes across a range of price points and designs, including residences for first-time, move-up, luxury, and active-adult buyers. Its operations also include land acquisition and development, allowing Lennar to prepare communities and lots for residential construction.

In addition to homebuilding, Lennar develops multifamily rental properties and provides related financial services.