Prescott Group Capital Management L.L.C. cut its holdings in shares of Lennar Co. (NYSE:LEN) by 33.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,393 shares of the construction company’s stock after selling 16,429 shares during the quarter. Prescott Group Capital Management L.L.C.’s holdings in Lennar were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in shares of Lennar by 475.0% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,990 shares of the construction company’s stock worth $157,000 after purchasing an additional 2,470 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Lennar by 132.4% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 48,445 shares of the construction company’s stock worth $2,543,000 after purchasing an additional 27,595 shares during the period. Miller Value Partners LLC grew its holdings in shares of Lennar by 0.5% during the 2nd quarter. Miller Value Partners LLC now owns 1,393,550 shares of the construction company’s stock worth $73,161,000 after purchasing an additional 7,325 shares during the period. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of Lennar during the 3rd quarter worth $1,055,000. Finally, Riverhead Capital Management LLC grew its holdings in shares of Lennar by 6.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 20,395 shares of the construction company’s stock worth $1,071,000 after purchasing an additional 1,314 shares during the period. Institutional investors and hedge funds own 87.14% of the company’s stock.
LEN opened at $42.60 on Friday. Lennar Co. has a 12-month low of $38.22 and a 12-month high of $72.17. The company has a current ratio of 12.62, a quick ratio of 0.72 and a debt-to-equity ratio of 0.67. The stock has a market cap of $14.13 billion, a P/E ratio of 11.18, a PEG ratio of 0.51 and a beta of 1.24.
The business also recently declared a quarterly dividend, which was paid on Friday, November 2nd. Shareholders of record on Friday, October 19th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Thursday, October 18th. Lennar’s dividend payout ratio is currently 4.20%.
A number of equities analysts have recently weighed in on LEN shares. JMP Securities reiterated an “outperform” rating on shares of Lennar in a report on Monday, October 8th. Mizuho set a $65.00 target price on Lennar and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Wedbush raised Lennar from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $56.00 to $50.00 in a research note on Monday, October 29th. Barclays set a $63.00 target price on Lennar and gave the stock a “buy” rating in a research note on Friday, September 14th. Finally, Royal Bank of Canada set a $63.00 target price on Lennar and gave the stock a “buy” rating in a research note on Thursday, October 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $62.63.
In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $46.98, for a total value of $939,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.50% of the stock is owned by company insiders.
Lennar Company 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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