Oak Harvest Investment Services Buys New Holdings in Lennar Co. (NYSE:LEN)

Oak Harvest Investment Services acquired a new stake in Lennar Co. (NYSE:LEN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,375 shares of the construction company’s stock, valued at approximately $820,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Oakworth Capital Inc. bought a new position in shares of Lennar in the third quarter valued at $27,000. Wolff Wiese Magana LLC lifted its position in Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in Lennar during the 1st quarter valued at about $30,000. GHP Investment Advisors Inc. purchased a new stake in shares of Lennar in the third quarter worth approximately $30,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of Lennar in the first quarter valued at approximately $32,000. Institutional investors own 81.10% of the company’s stock.

Insider Activity at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction on 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 sale, the director now owns 23,689 shares in the company, valued at $4,148,654.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 9.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LEN has been the topic of several analyst reports. Bank of America boosted their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Citigroup increased their price target on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Wells Fargo & Company lowered Lennar from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $205.00 to $190.00 in a research report on Monday, October 7th. The Goldman Sachs Group lowered shares of Lennar from a “buy” rating to a “neutral” rating and reduced their price target for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $181.11.

Lennar Stock Performance

NYSE:LEN opened at $171.60 on Thursday. The company has a market capitalization of $46.55 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.62 and a beta of 1.61. The business has a 50 day moving average of $181.82 and a 200 day moving average of $167.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar Co. has a 1-year low of $104.68 and a 1-year high of $193.80.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping 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 business had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same period in the previous year, the firm earned $3.91 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts predict that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given 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 dividend yield of 1.17%. Lennar’s dividend payout ratio is currently 13.60%.

Lennar 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.