17,500 Shares in Lennar Corporation $LEN Acquired by Sanders Morris Harris LLC

Sanders Morris Harris LLC bought a new stake in Lennar Corporation (NYSE:LEN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 17,500 shares of the construction company’s stock, valued at approximately $2,206,000.

A number of other large investors have also made changes to their positions in the business. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Lennar in the 2nd quarter worth $424,950,000. The Manufacturers Life Insurance Company grew its position in Lennar by 45.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock worth $1,020,866,000 after purchasing an additional 2,777,567 shares during the last quarter. Viking Global Investors LP raised its holdings in shares of Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after buying an additional 1,172,068 shares during the last quarter. Eminence Capital LP lifted its stake in shares of Lennar by 130.8% during the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock worth $181,523,000 after buying an additional 896,264 shares during the period. Finally, Brave Warrior Advisors LLC increased its holdings in shares of Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock valued at $251,323,000 after purchasing an additional 415,218 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Performance

LEN opened at $117.62 on Wednesday. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $153.48. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The firm has a fifty day moving average price of $123.28 and a 200 day moving average price of $121.66. The stock has a market cap of $30.00 billion, a P/E ratio of 11.62, a P/E/G ratio of 5.01 and a beta of 1.38.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 18th. The construction company reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). Lennar had a return on equity of 11.09% and a net margin of 7.72%.The firm had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. During the same quarter last year, the company posted $3.90 EPS. The company’s revenue was down 6.4% on a year-over-year basis. Equities research analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Friday, October 10th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, October 10th. Lennar’s dividend payout ratio (DPR) is presently 19.76%.

Analyst Ratings Changes

A number of equities research analysts recently commented on LEN shares. Wall Street Zen downgraded Lennar from a “hold” rating to a “sell” rating in a report on Monday, December 8th. The Goldman Sachs Group lifted their price objective on shares of Lennar from $122.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Wedbush reiterated a “neutral” rating and issued a $130.00 price objective on shares of Lennar in a research note on Monday, September 22nd. BTIG Research assumed coverage on shares of Lennar in a research report on Tuesday, December 2nd. They set a “sell” rating and a $96.00 target price for the company. Finally, Wells Fargo & Company cut their price target on Lennar from $135.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $121.77.

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.