Graypoint LLC Makes New Investment in Lennar Co. (NYSE:LEN)

Graypoint LLC bought a new position in shares of Lennar Co. (NYSE:LEN) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,361 shares of the construction company’s stock, valued at approximately $204,000.

Other large investors have also recently added to or reduced their stakes in the company. Boston Partners boosted its position in Lennar by 21.5% during the first quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after purchasing an additional 4,207 shares during the period. Integrated Advisors Network LLC boosted its position in shares of Lennar by 177.3% in the fourth quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock valued at $4,659,000 after acquiring an additional 19,985 shares during the period. First National Bank of Mount Dora Trust Investment Services boosted its position in shares of Lennar by 331.8% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock valued at $2,069,000 after acquiring an additional 9,246 shares during the period. Grayhawk Investment Strategies Inc. bought a new stake in shares of Lennar in the fourth quarter valued at approximately $838,000. Finally, Norden Group LLC bought a new stake in shares of Lennar in the first quarter valued at approximately $5,592,000. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LEN. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. cut their target price on Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $183.00 target price on shares of Lennar in a research note on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $169.13.

Lennar Stock Performance

Lennar stock opened at $182.06 on Tuesday. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $186.60. The firm has a market capitalization of $49.99 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.65 and a beta of 1.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The stock has a fifty day moving average price of $166.59 and a two-hundred day moving average price of $161.30.

Lennar (NYSE:LEN) last announced its earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.18. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.57 billion. As a group, analysts anticipate that Lennar Co. will post 14.16 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.10%. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Lennar 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.