CWA Asset Management Group LLC Invests $2.35 Million in Lennar Co. (NYSE:LEN)

CWA Asset Management Group LLC purchased a new stake in Lennar Co. (NYSE:LEN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,543 shares of the construction company’s stock, valued at approximately $2,352,000.

A number of other hedge funds have also recently added to or reduced their stakes in LEN. Pacer Advisors Inc. raised its holdings in Lennar by 15.1% during the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after buying an additional 396,951 shares in the last quarter. D1 Capital Partners L.P. raised 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 acquiring an additional 1,962,447 shares in the last quarter. Marshall Wace LLP lifted its holdings in Lennar by 20.9% in the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after purchasing an additional 348,553 shares during the last quarter. Eminence Capital LP boosted its position in Lennar by 14.6% during the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after purchasing an additional 83,316 shares during the period. Finally, Bamco Inc. NY grew its holdings in Lennar by 3.8% during the first quarter. Bamco Inc. NY now owns 648,867 shares of the construction company’s stock valued at $111,592,000 after purchasing an additional 23,483 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on LEN. Wells Fargo & Company lowered their target price on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday. Wedbush reiterated a “neutral” rating and issued a $144.00 price objective on shares of Lennar in a research note on Friday, September 20th. Keefe, Bruyette & Woods increased their target price on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Bank Of America (Bofa) upped their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Evercore ISI lowered their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $180.56.

Insider Buying and Selling

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the sale, the director now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.36% of the stock is owned by corporate insiders.

Lennar Trading Up 0.7 %

Shares of Lennar stock opened at $172.58 on Friday. The stock has a market capitalization of $46.81 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. Lennar Co. has a 12-month low of $118.92 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 company has a 50-day simple moving average of $180.40 and a 200 day simple moving average of $168.26.

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

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

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.