Lyell Wealth Management LP Buys 2,785 Shares of Lennar Co. (NYSE:LEN)

Lyell Wealth Management LP grew its stake in Lennar Co. (NYSE:LEN) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,623 shares of the construction company’s stock after purchasing an additional 2,785 shares during the period. Lennar comprises about 1.3% of Lyell Wealth Management LP’s investment portfolio, making the stock its 21st biggest position. Lyell Wealth Management LP’s holdings in Lennar were worth $14,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Oakworth Capital Inc. acquired a new stake in Lennar during the third quarter worth about $27,000. Wolff Wiese Magana LLC grew 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 worth $29,000 after purchasing an additional 140 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Lennar during the first quarter valued at approximately $30,000. Asset Dedication LLC raised its stake in shares of Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after purchasing an additional 169 shares in the last quarter. Finally, DT Investment Partners LLC lifted its position in Lennar by 523.3% in the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after purchasing an additional 157 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Down 1.5 %

Shares of LEN opened at $173.28 on Friday. The stock’s fifty day simple moving average is $182.05 and its 200-day simple moving average is $167.08. The firm has a market capitalization of $47.00 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.61. Lennar Co. has a 12-month low of $102.90 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.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.91 EPS. As a group, research analysts predict that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LEN shares. Citigroup increased their price objective on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Keefe, Bruyette & Woods lifted 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. Raymond James downgraded Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Finally, Barclays upped their price target on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $181.11.

Lennar Company 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.