Rakuten Securities Inc. Increases Position in Lennar Co. (NYSE:LEN)

Rakuten Securities Inc. lifted its position in shares of Lennar Co. (NYSE:LEN) by 2,681.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 445 shares of the construction company’s stock after buying an additional 429 shares during the quarter. Rakuten Securities Inc.’s holdings in Lennar were worth $83,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Oakworth Capital Inc. purchased a new position in shares of Lennar in the third quarter valued at about $27,000. Wolff Wiese Magana LLC lifted its holdings in Lennar by 933.3% in 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. GHP Investment Advisors Inc. bought a new position in Lennar in the 3rd quarter worth approximately $30,000. J.Safra Asset Management Corp purchased a new stake in Lennar during the 1st quarter valued at approximately $30,000. Finally, Asset Dedication LLC raised its position in shares of Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after buying an additional 169 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Lennar stock opened at $166.20 on Wednesday. Lennar Co. has a 12-month low of $120.50 and a 12-month high of $193.80. 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 firm has a 50-day moving average price of $180.20 and a 200-day moving average price of $168.59. The firm has a market capitalization of $45.08 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.61 and a beta of 1.62.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.91 earnings per share. As a group, equities research analysts forecast that Lennar Co. will post 14.18 EPS 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 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 yield of 1.20%. Lennar’s payout ratio is 13.25%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank Of America (Bofa) upped their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Barclays increased their price objective on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. StockNews.com cut Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Royal Bank of Canada increased their price target on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. Finally, The Goldman Sachs Group downgraded Lennar from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $180.00 to $174.00 in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $180.56.

Insider Transactions at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’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 transaction, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 9.36% of the company’s stock.

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.