Hudson Valley Investment Advisors Inc. ADV Grows Position in Lennar Co. (NYSE:LEN)

Hudson Valley Investment Advisors Inc. ADV increased its position in shares of Lennar Co. (NYSE:LEN) by 37.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,824 shares of the construction company’s stock after buying an additional 12,015 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Lennar were worth $8,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pacer Advisors Inc. grew its stake in shares of 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 purchasing an additional 396,951 shares during the last quarter. D1 Capital Partners L.P. grew its stake in shares of Lennar by 428.9% in the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after purchasing an additional 1,962,447 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Lennar by 20.9% in the 2nd 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. Nordea Investment Management AB grew its stake in shares of Lennar by 3.6% in the 1st quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after purchasing an additional 60,713 shares during the last quarter. Finally, Eminence Capital LP grew its stake in shares of Lennar by 14.6% in the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock valued at $98,220,000 after purchasing an additional 83,316 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on LEN shares. Bank of America raised their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Citigroup raised their price target on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada raised their price target on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. Bank Of America (Bofa) raised their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Wedbush reissued a “neutral” rating and issued a $144.00 price target on shares of Lennar in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $181.11.

Lennar Stock Performance

Lennar stock opened at $171.60 on Thursday. The firm has a market capitalization of $46.55 billion, a P/E ratio of 11.67, a PEG ratio of 1.62 and a beta of 1.61. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average price of $181.82 and a 200 day moving average price of $167.43. Lennar Co. has a 52 week low of $104.68 and a 52 week high of $193.80.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter last year, the business posted $3.91 EPS. Lennar’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.60%.

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.36% of the stock is owned by insiders.

Lennar 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.