D1 Capital Partners L.P. Purchases 1,962,447 Shares of Lennar Co. (NYSE:LEN)

D1 Capital Partners L.P. lifted its holdings in shares of Lennar Co. (NYSE:LEN) by 428.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,420,000 shares of the construction company’s stock after purchasing an additional 1,962,447 shares during the period. Lennar makes up approximately 6.1% of D1 Capital Partners L.P.’s investment portfolio, making the stock its 3rd biggest holding. D1 Capital Partners L.P.’s holdings in Lennar were worth $362,685,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Gilbert & Cook Inc. grew its holdings in Lennar by 5.5% during the fourth quarter. Gilbert & Cook Inc. now owns 4,053 shares of the construction company’s stock worth $604,000 after buying an additional 211 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Lennar by 9.1% in the fourth quarter. Clearbridge Investments LLC now owns 31,158 shares of the construction company’s stock valued at $4,644,000 after purchasing an additional 2,595 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Lennar by 53.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 33,925 shares of the construction company’s stock valued at $5,056,000 after purchasing an additional 11,851 shares in the last quarter. FineMark National Bank & Trust purchased a new position in Lennar during the fourth quarter worth about $211,000. Finally, Orion Portfolio Solutions LLC grew its position in Lennar by 0.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 16,204 shares of the construction company’s stock worth $2,419,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of LEN stock opened at $182.19 on Monday. The firm has a market capitalization of $50.03 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.61 and a beta of 1.61. The stock has a fifty day moving average of $176.53 and a 200 day moving average of $164.01. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $193.80. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the previous year, the firm posted $3.91 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, research analysts expect that Lennar Co. will post 14.16 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LEN shares. Wedbush reiterated a “neutral” rating and set a $144.00 target price on shares of Lennar in a research note on Friday. Evercore ISI increased their target price on shares of Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a report on Thursday, June 20th. Citigroup reissued a “neutral” rating and issued a $164.00 target price (down from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $174.61.

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.