Horizon Kinetics Asset Management LLC Buys 752 Shares of Lennar Co. (NYSE:LEN)

Horizon Kinetics Asset Management LLC lifted its position in Lennar Co. (NYSE:LEN) by 14.7% during the 3rd quarter, Holdings Channel reports. The firm owned 5,862 shares of the construction company’s stock after buying an additional 752 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Lennar were worth $1,099,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Lennar by 1.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 350,987 shares of the construction company’s stock worth $60,364,000 after buying an additional 6,136 shares in the last quarter. SVB Wealth LLC grew its position in Lennar by 15.9% during the 1st quarter. SVB Wealth LLC now owns 3,916 shares of the construction company’s stock worth $674,000 after acquiring an additional 538 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Lennar during the 1st quarter valued at $996,000. B. Riley Wealth Advisors Inc. raised its position in Lennar by 31.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,802 shares of the construction company’s stock valued at $1,686,000 after purchasing an additional 2,332 shares during the last quarter. Finally, Redwood Investment Management LLC acquired a new position in Lennar in the first quarter worth $1,546,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised 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. Citigroup raised their price objective on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. upped their target price on shares of Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Wells Fargo & Company lowered their price target on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their target price on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Lennar has a consensus rating of “Hold” and a consensus price target of $180.56.

Lennar Trading Up 5.6 %

LEN opened at $178.70 on Tuesday. Lennar Co. has a twelve month low of $125.17 and a twelve month high of $193.80. The firm has a market cap of $48.47 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. 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 firm’s fifty day moving average is $177.90 and its two-hundred day moving average is $169.46.

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 return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same period in the previous year, the firm earned $3.91 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Lennar Co. will post 14.18 EPS for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is currently 13.25%.

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction dated 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 in the company, 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 document filed with the SEC, which is available at the SEC website. Corporate insiders own 9.36% of the company’s stock.

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.