Paragon Capital Management Ltd Trims Position in Lennar Co. (NYSE:LEN)

Paragon Capital Management Ltd lowered its position in Lennar Co. (NYSE:LEN) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,235 shares of the construction company’s stock after selling 167 shares during the quarter. Paragon Capital Management Ltd’s holdings in Lennar were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in LEN. Envestnet Asset Management Inc. boosted its holdings in shares of Lennar by 5.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 199,638 shares of the construction company’s stock worth $11,150,000 after buying an additional 10,361 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Lennar by 102.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 69,745 shares of the construction company’s stock valued at $3,895,000 after buying an additional 35,331 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in Lennar in the 3rd quarter valued at $251,000. Advisor Partners LLC raised its position in Lennar by 14.4% in the 3rd quarter. Advisor Partners LLC now owns 6,427 shares of the construction company’s stock valued at $359,000 after buying an additional 811 shares during the last quarter. Finally, Massey Quick Simon & CO. LLC purchased a new stake in Lennar in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 84.97% of the company’s stock.

A number of equities research analysts recently commented on the company. Raymond James raised Lennar from a “market perform” rating to an “outperform” rating and set a $61.00 price target for the company in a research report on Wednesday, September 25th. Barclays increased their price target on Lennar from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Friday, October 4th. Buckingham Research raised their target price on Lennar from $60.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada raised their target price on Lennar from $59.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $60.00.

NYSE LEN traded up $0.51 during trading hours on Friday, hitting $57.80. The company had a trading volume of 2,705,497 shares, compared to its average volume of 3,472,462. Lennar Co. has a 52 week low of $37.29 and a 52 week high of $62.63. The firm has a 50 day simple moving average of $58.75 and a 200 day simple moving average of $52.66. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.79 and a current ratio of 14.19. The firm has a market capitalization of $18.54 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 1.18 and a beta of 1.09.

Lennar (NYSE:LEN) last issued its earnings results on Wednesday, October 2nd. The construction company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.32 by $0.27. The business had revenue of $5.86 billion during the quarter, compared to the consensus estimate of $5.48 billion. Lennar had a return on equity of 12.10% and a net margin of 9.06%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 EPS. On average, research analysts forecast that Lennar Co. will post 5.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, October 17th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.28%. Lennar’s dividend payout ratio (DPR) is presently 2.52%.

In related news, insider David M. Collins sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $59.50, for a total transaction of $892,500.00. Following the transaction, the insider now directly owns 126,631 shares of the company’s stock, valued at approximately $7,534,544.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $56.00, for a total value of $1,120,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,126 shares of company stock valued at $2,954,819. Corporate insiders own 8.43% of the company’s stock.

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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