MBB Public Markets I LLC Makes New $2.66 Million Investment in Lennar Co. (NYSE:LEN)

MBB Public Markets I LLC purchased a new position in Lennar Co. (NYSE:LEN) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 17,739 shares of the construction company’s stock, valued at approximately $2,659,000.

A number of other hedge funds have also recently made changes to their positions in LEN. Boston Partners lifted its position in shares of Lennar by 21.5% during the first quarter. Boston Partners now owns 23,775 shares of the construction company’s stock valued at $4,089,000 after buying an additional 4,207 shares during the last quarter. Integrated Advisors Network LLC raised its stake in shares of Lennar by 177.3% during the 4th quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock worth $4,659,000 after acquiring an additional 19,985 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its stake in Lennar by 331.8% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock valued at $2,069,000 after acquiring an additional 9,246 shares in the last quarter. Grayhawk Investment Strategies Inc. purchased a new position in Lennar in the fourth quarter worth $838,000. Finally, Norden Group LLC acquired a new position in shares of Lennar during the first quarter worth $5,592,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Stock Performance

Shares of NYSE LEN opened at $187.03 on Friday. The company has a market capitalization of $51.36 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. 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 company’s fifty day moving average price is $178.25 and its 200 day moving average price is $164.70. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $193.80.

Lennar (NYSE:LEN) last announced 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 during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.91 EPS. On average, research analysts predict that Lennar Co. will post 14.13 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. Lennar’s dividend payout ratio (DPR) is 13.60%.

Wall Street Analyst Weigh In

LEN has been the topic of several research analyst reports. Royal Bank of Canada boosted their target price on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. JMP Securities lifted their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Raymond James lowered shares of Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $181.94.

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.