3Chopt Investment Partners LLC Purchases New Stake in Lennar Co. (NYSE:LEN)

3Chopt Investment Partners LLC purchased a new stake in Lennar Co. (NYSE:LEN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,029 shares of the construction company’s stock, valued at approximately $904,000.

Several other large investors have also recently added to or reduced their stakes in LEN. Rise Advisors LLC grew its holdings in shares of Lennar by 484.0% during the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after purchasing an additional 121 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in Lennar during the 1st quarter worth about $30,000. New Covenant Trust Company N.A. bought a new stake in shares of Lennar in the 1st quarter valued at $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar in the 1st quarter valued at $35,000. Finally, Fortitude Family Office LLC increased its stake in shares of Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after acquiring an additional 161 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

LEN has been the subject of several research analyst reports. Barclays lifted their price objective on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. The Goldman Sachs Group downgraded 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. Royal Bank of Canada lifted their price target on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research report on Monday, September 23rd. Bank of America lifted their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Company lifted their price target on shares of Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Lennar has an average rating of “Hold” and an average target price of $181.94.

Lennar Trading Up 0.2 %

NYSE LEN opened at $187.48 on Tuesday. The stock has a market capitalization of $51.48 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.71 and a beta of 1.61. Lennar Co. has a one year low of $102.90 and a one year high of $193.80. 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 business’s fifty day moving average is $178.55 and its 200-day moving average is $164.94.

Lennar (NYSE:LEN) last released its 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 company 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 business posted $3.91 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts predict that Lennar Co. will post 14.13 EPS for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.60%.

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.