Navellier & Associates Inc. Invests $594,000 in Lennar Co. (NYSE:LEN)

Navellier & Associates Inc. purchased a new position in shares of Lennar Co. (NYSE:LEN) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 3,170 shares of the construction company’s stock, valued at approximately $594,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LEN. Oakworth Capital Inc. bought a new stake in shares of Lennar in the 3rd quarter worth $27,000. Wolff Wiese Magana LLC lifted its position in shares of Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after buying an additional 140 shares in the last quarter. GHP Investment Advisors Inc. purchased a new position in shares of Lennar in the 3rd quarter worth approximately $30,000. New Covenant Trust Company N.A. bought a new position in shares of Lennar in the first quarter valued at approximately $32,000. Finally, Asset Dedication LLC raised its position in Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after acquiring an additional 169 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Price Performance

Shares of Lennar stock opened at $168.07 on Friday. The firm has a market cap of $45.59 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. The company’s fifty day simple moving average is $178.41 and its two-hundred day simple moving average is $169.14. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12-month low of $125.17 and a 12-month high of $193.80.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping 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 business had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter last year, the business posted $3.91 EPS. The business’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts expect that Lennar Co. will post 14.18 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders 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 annualized dividend and a yield of 1.19%. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

Wall Street Analysts Forecast Growth

LEN has been the subject of several research analyst reports. Bank Of America (Bofa) raised their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Evercore ISI dropped their target price on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. JMP Securities raised their price objective on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 25th. Barclays increased their price objective on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company lowered their target price on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lennar has a consensus rating of “Hold” and a consensus target price of $180.56.

Insider Transactions at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.36% of the company’s stock.

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.