Lennar Co. (LEN) Shares Bought by Mengis Capital Management Inc.

Mengis Capital Management Inc. boosted its stake in shares of Lennar Co. (NYSE:LEN) by 13.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,525 shares of the construction company’s stock after purchasing an additional 3,670 shares during the period. Mengis Capital Management Inc.’s holdings in Lennar were worth $1,471,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its position in Lennar by 475.0% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,990 shares of the construction company’s stock valued at $157,000 after purchasing an additional 2,470 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its position in Lennar by 132.4% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 48,445 shares of the construction company’s stock valued at $2,543,000 after purchasing an additional 27,595 shares in the last quarter. Miller Value Partners LLC grew its position in Lennar by 0.5% during 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 purchasing an additional 7,325 shares in the last quarter. Riverhead Capital Management LLC grew its position in Lennar by 6.9% during the second quarter. Riverhead Capital Management LLC now owns 20,395 shares of the construction company’s stock valued at $1,071,000 after purchasing an additional 1,314 shares in the last quarter. Finally, Greenbrier Partners Capital Management LLC grew its position in Lennar by 100.0% during the second quarter. Greenbrier Partners Capital Management LLC now owns 200,000 shares of the construction company’s stock valued at $10,500,000 after purchasing an additional 100,000 shares in the last quarter. 85.12% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have commented on LEN. Citigroup decreased their target price on shares of Lennar from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, October 4th. TheStreet downgraded shares of Lennar from a “b-” rating to a “c+” rating in a research report on Tuesday, October 23rd. Zacks Investment Research downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. JMP Securities set a $56.00 target price on shares of Lennar and gave the stock a “buy” rating in a research report on Friday, October 5th. Finally, Bank of America decreased their target price on shares of Lennar from $93.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have assigned a buy rating to the stock. Lennar presently has an average rating of “Buy” and an average target price of $63.38.

In other news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $46.98, for a total value 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 insiders.

Shares of Lennar stock opened at $42.97 on Thursday. The company has a quick ratio of 0.72, a current ratio of 12.62 and a debt-to-equity ratio of 0.67. Lennar Co. has a 1-year low of $38.79 and a 1-year high of $72.17. The firm has a market capitalization of $14.53 billion, a PE ratio of 11.28, a PEG ratio of 0.49 and a beta of 1.24.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 2nd. Stockholders of record on Friday, October 19th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Thursday, October 18th. Lennar’s payout ratio is 4.20%.

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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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