Worldquant Millennium Advisors LLC Invests $1.65 Million in Lennar Co. (NYSE:LEN)

Worldquant Millennium Advisors LLC purchased a new position in Lennar Co. (NYSE:LEN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,799 shares of the construction company’s stock, valued at approximately $1,650,000.

Several other hedge funds have also recently modified their holdings of LEN. Oakworth Capital Inc. acquired a new stake in Lennar in the third quarter valued at approximately $27,000. Wolff Wiese Magana LLC lifted its holdings in shares of Lennar by 933.3% during the 3rd 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 last quarter. GHP Investment Advisors Inc. purchased a new stake in shares of Lennar during the 3rd quarter valued at $30,000. Asset Dedication LLC lifted its holdings in shares of Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after purchasing an additional 169 shares during the last quarter. Finally, DT Investment Partners LLC lifted its holdings in shares of Lennar by 523.3% during the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock valued at $35,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction that occurred 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 sale, the director now directly owns 23,689 shares of the company’s stock, valued at $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 9.36% of the company’s stock.

Lennar Stock Down 0.9 %

LEN opened at $163.45 on Monday. The company has a fifty day moving average of $175.19 and a two-hundred day moving average of $169.93. 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 Co. has a fifty-two week low of $135.31 and a fifty-two week high of $193.80. The stock has a market capitalization of $44.33 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.39 and a beta of 1.61.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.91 earnings per share. On average, research analysts expect that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio is presently 13.25%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. JMP Securities increased their price objective on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Wednesday, September 25th. Keefe, Bruyette & Woods increased their price objective on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Wedbush reiterated a “neutral” rating and set a $144.00 price objective on shares of Lennar in a report on Friday, September 20th. Evercore ISI reduced their target price on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Finally, Royal Bank of Canada raised 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. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $184.29.

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.