Quantitative Systematic Strategies LLC Makes New $2.22 Million Investment in Lennar Co. (NYSE:LEN)

Quantitative Systematic Strategies LLC acquired a new position in Lennar Co. (NYSE:LEN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 45,762 shares of the construction company’s stock, valued at approximately $2,218,000.

A number of other institutional investors and hedge funds also recently modified their holdings of LEN. Long Pond Capital LP increased its stake in shares of Lennar by 21.1% during the first quarter. Long Pond Capital LP now owns 2,327,633 shares of the construction company’s stock valued at $114,264,000 after purchasing an additional 405,962 shares in the last quarter. Smead Capital Management Inc. increased its stake in shares of Lennar by 0.9% during the first quarter. Smead Capital Management Inc. now owns 1,544,021 shares of the construction company’s stock valued at $75,796,000 after purchasing an additional 14,140 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Lennar by 0.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,123,228 shares of the construction company’s stock valued at $55,139,000 after purchasing an additional 2,904 shares in the last quarter. Swiss National Bank increased its stake in shares of Lennar by 2.8% during the first quarter. Swiss National Bank now owns 975,388 shares of the construction company’s stock valued at $47,882,000 after purchasing an additional 27,000 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Lennar by 15.5% during the first quarter. Clearbridge Investments LLC now owns 669,606 shares of the construction company’s stock valued at $32,871,000 after purchasing an additional 90,079 shares in the last quarter. Institutional investors and hedge funds own 85.71% of the company’s stock.

In related news, President Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $49.04, for a total value of $980,800.00. Following the sale, the president now owns 346,946 shares in the company, valued at $17,014,231.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.43% of the company’s stock.

Shares of LEN traded down $0.87 on Monday, hitting $47.11. 187,615 shares of the stock traded hands, compared to its average volume of 3,243,204. The stock has a market cap of $15.32 billion, a P/E ratio of 7.47, a PEG ratio of 1.05 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 13.93 and a quick ratio of 0.79. The firm has a 50 day simple moving average of $48.77. Lennar Co. has a one year low of $37.29 and a one year high of $54.50.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Tuesday, June 25th. The construction company reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.17. Lennar had a net margin of 8.86% and a return on equity of 12.03%. The company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that Lennar Co. will post 5.31 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Wednesday, July 10th. Lennar’s dividend payout ratio is currently 2.52%.

A number of equities analysts have weighed in on LEN shares. Bank of America decreased their target price on shares of Lennar from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Susquehanna Bancshares reaffirmed a “neutral” rating and set a $57.00 target price (down previously from $64.00) on shares of Lennar in a research note on Wednesday, April 17th. BTIG Research set a $65.00 target price on shares of Lennar and gave the company a “buy” rating in a research note on Wednesday, June 26th. Raymond James downgraded shares of Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 target price for the company. in a research note on Tuesday, June 18th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Lennar from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.89.

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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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