State Treasurer State of Michigan Has $4.06 Million Holdings in Lennar Co. (LEN)

State Treasurer State of Michigan grew its holdings in Lennar Co. (NYSE:LEN) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,958 shares of the construction company’s stock after acquiring an additional 6,000 shares during the quarter. State Treasurer State of Michigan’s holdings in Lennar were worth $4,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Long Pond Capital LP boosted its position in shares of Lennar by 197.0% in the second quarter. Long Pond Capital LP now owns 5,200,000 shares of the construction company’s stock valued at $273,000,000 after acquiring an additional 3,449,061 shares during the period. Miller Value Partners LLC boosted its position in shares of Lennar by 0.5% in the second quarter. Miller Value Partners LLC now owns 1,393,550 shares of the construction company’s stock valued at $73,161,000 after acquiring an additional 7,325 shares during the period. Sterling Capital Management LLC boosted its position in shares of Lennar by 45.0% in the second quarter. Sterling Capital Management LLC now owns 1,044,097 shares of the construction company’s stock valued at $54,815,000 after acquiring an additional 324,164 shares during the period. Cannell Peter B & Co. Inc. boosted its position in shares of Lennar by 486.7% in the second quarter. Cannell Peter B & Co. Inc. now owns 1,016,196 shares of the construction company’s stock valued at $53,350,000 after acquiring an additional 842,976 shares during the period. Finally, Swiss National Bank boosted its position in shares of Lennar by 3.5% in the second quarter. Swiss National Bank now owns 944,388 shares of the construction company’s stock valued at $49,580,000 after acquiring an additional 31,500 shares during the period. 86.01% of the stock is owned by institutional investors.

In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction on Monday, October 1st. The stock was sold at an average price of $46.98, for a total transaction of $939,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Several research firms have recently weighed in on LEN. TheStreet cut Lennar from a “b-” rating to a “c+” rating in a research report on Tuesday, October 23rd. Wedbush raised Lennar from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $56.00 to $50.00 in a research report on Monday. Credit Suisse Group reissued a “neutral” rating and issued a $45.00 price objective (down from $55.00) on shares of Lennar in a research report on Wednesday, October 17th. MKM Partners set a $61.00 price objective on Lennar and gave the company a “buy” rating in a research report on Thursday, October 4th. Finally, Mizuho set a $60.00 price objective on Lennar and gave the company a “buy” rating in a research report on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $63.38.

Shares of NYSE LEN opened at $43.04 on Wednesday. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 0.46 and a beta of 1.23. Lennar Co. has a 52-week low of $38.79 and a 52-week high of $72.17. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.62 and a quick ratio of 0.72.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, October 3rd. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.11. The company had revenue of $5.67 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Lennar had a return on equity of 12.87% and a net margin of 6.76%. The business’s revenue was up 73.9% on a year-over-year basis. During the same period last year, the business earned $1.06 earnings per share. As a group, sell-side analysts predict that Lennar Co. will post 4.94 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 2nd. Shareholders of record on Friday, October 19th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.37%. Lennar’s payout ratio is presently 4.20%.

Lennar Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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