Bamco Inc. NY Has $133.30 Million Holdings in Lennar Co. (NYSE:LEN)

Bamco Inc. NY increased its position in shares of Lennar Co. (NYSE:LEN) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 711,023 shares of the construction company’s stock after buying an additional 17,834 shares during the period. Bamco Inc. NY owned 0.26% of Lennar worth $133,303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. bought a new stake in shares of Lennar in the 3rd quarter valued at about $27,000. Wolff Wiese Magana LLC increased its position in Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after buying an additional 140 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in Lennar in the third quarter valued at approximately $30,000. Asset Dedication LLC lifted its position 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 buying an additional 169 shares during the last quarter. Finally, Fortitude Family Office LLC increased its holdings in shares of Lennar by 223.6% during the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after acquiring an additional 161 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Insider Activity at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction 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 42.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on LEN. Evercore ISI cut their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on shares of Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Wedbush reiterated a “neutral” rating and issued a $144.00 price target on shares of Lennar in a research note on Friday, September 20th. Royal Bank of Canada boosted their price objective on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods increased their target price on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Lennar currently has an average rating of “Hold” and a consensus price target of $184.29.

Lennar Stock Performance

Shares of NYSE:LEN opened at $174.39 on Monday. Lennar Co. has a 1 year low of $125.17 and a 1 year high of $193.80. The stock has a market capitalization of $47.30 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.63 and a beta of 1.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The company’s 50 day simple moving average is $176.77 and its 200 day simple moving average is $169.72.

Lennar (NYSE:LEN) last issued its quarterly 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. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same quarter last year, the company posted $3.91 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, research analysts predict that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. Lennar’s dividend payout ratio (DPR) is currently 13.25%.

About Lennar

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.