Lennar Corporation $LEN Shares Bought by Element Pointe Advisors LLC

Key Points

• Element Pointe Advisors LLC increased its Lennar stake by 288.5% in the third quarter, adding 15,000 shares and ending with 20,200 shares worth approximately $1.65 million.
• Other institutional investors also increased their positions, while Berkshire Hathaway bought 1.71 million shares for about $135.7 million. Institutional investors own 81.1% of Lennar, and insiders own 10.05%.
• Lennar’s latest quarterly results missed analysts’ estimates, with revenue down 8.7% year over year. Analysts maintain a consensus “Reduce” rating with an average price target of $79, while the company declared a $0.50 quarterly dividend.

Element Pointe Advisors LLC boosted its stake in Lennar Corporation (NYSE:LEN - Free Report) by 288.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,200 shares of the construction company's stock after acquiring an additional 15,000 shares during the period. Element Pointe Advisors LLC's holdings in Lennar were worth $1,648,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LEN. Janus Henderson Group PLC lifted its position in shares of Lennar by 19.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company's stock worth $221,176,000 after purchasing an additional 419,745 shares during the period. Swiss National Bank boosted its stake in shares of Lennar by 4.8% in the 1st quarter. Swiss National Bank now owns 601,468 shares of the construction company's stock valued at $52,231,000 after purchasing an additional 27,500 shares during the last quarter. Nan Shan Life Insurance Co. Ltd. boosted its stake in shares of Lennar by 6,292.5% in the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 328,000 shares of the construction company's stock valued at $29,681,000 after purchasing an additional 322,869 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Lennar by 2.3% in the 1st quarter. California Public Employees Retirement System now owns 313,354 shares of the construction company's stock valued at $27,212,000 after purchasing an additional 7,103 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Lennar by 322.4% during the first quarter. Empowered Funds LLC now owns 309,880 shares of the construction company's stock worth $26,910,000 after buying an additional 236,524 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Performance

Shares of LEN opened at $77.61 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.94 and a quick ratio of 0.69. The stock has a 50-day moving average of $81.27 and a 200-day moving average of $85.69. The company has a market cap of $18.46 billion, a PE ratio of 14.43, a P/E/G ratio of 2.96 and a beta of 1.36. Lennar Corporation has a one year low of $71.78 and a one year high of $133.76.

Lennar (NYSE:LEN - Get Free Report) last issued its earnings results on Wednesday, September 16th. The construction company reported $1.23 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.06). Lennar had a net margin of 4.09% and a return on equity of 6.15%. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $8.32 billion. During the same period in the previous year, the firm earned $2.00 earnings per share. The business's quarterly revenue was down 8.7% on a year-over-year basis. On average, equities research analysts predict that Lennar Corporation will post 4.87 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Wednesday, October 7th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, October 7th. Lennar's dividend payout ratio (DPR) is currently 37.81%.

Insider Activity

In other Lennar news, major shareholder Berkshire Hathaway Inc purchased 1,708,095 shares of Lennar stock in a transaction that occurred on Friday, October 2nd. The stock was acquired at an average price of $79.44 per share, with a total value of $135,691,066.80. Following the transaction, the insider owned 28,438,045 shares in the company, valued at $2,259,118,294.80. This trade represents a 6.39% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders acquired 7,502,276 shares of company stock valued at $595,303,287. 10.05% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LEN shares. Citigroup lowered their target price on shares of Lennar from $88.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, September 21st. Citizens Jmp restated a "hold" rating on shares of Lennar in a report on Thursday, September 17th. Melius Research began coverage on shares of Lennar in a research report on Tuesday, October 6th. They set a "sell" rating and a $72.00 price target on the stock. Barclays cut their price target on shares of Lennar from $79.00 to $70.00 and set an "underweight" rating on the stock in a research report on Friday, September 18th. Finally, BTIG Research reiterated a "sell" rating and set a $63.00 price target on shares of Lennar in a report on Friday, September 18th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and ten have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Lennar presently has a consensus rating of "Reduce" and an average target price of $79.00.

Lennar Profile

Lennar Corporation NYSE: LEN is a homebuilding and real estate company that develops, constructs, and sells primarily single-family homes. The company offers homes across a range of price points and designs, including residences for first-time, move-up, luxury, and active-adult buyers. Its operations also include land acquisition and development, allowing Lennar to prepare communities and lots for residential construction.

In addition to homebuilding, Lennar develops multifamily rental properties and provides related financial services.

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