Transform Wealth LLC Invests $6.04 Million in Lennar Co. (NYSE:LEN)

Transform Wealth LLC bought a new stake in Lennar Co. (NYSE:LEN) in the 3rd quarter, HoldingsChannel reports. The fund bought 32,212 shares of the construction company’s stock, valued at approximately $6,039,000.

Several other institutional investors and hedge funds have also bought and sold shares of LEN. Centaurus Financial Inc. boosted its position in shares of Lennar by 12.3% in the 4th quarter. Centaurus Financial Inc. now owns 2,005 shares of the construction company’s stock worth $299,000 after purchasing an additional 220 shares in the last quarter. Fisher Asset Management LLC raised its stake in Lennar by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 105,922 shares of the construction company’s stock valued at $15,787,000 after buying an additional 1,422 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in Lennar in the fourth quarter worth about $615,000. Nomura Holdings Inc. grew its stake in shares of Lennar by 117.9% during the fourth quarter. Nomura Holdings Inc. now owns 5,032 shares of the construction company’s stock worth $750,000 after acquiring an additional 33,164 shares during the last quarter. Finally, Rise Advisors LLC raised its position in shares of Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after purchasing an additional 121 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Price Performance

Shares of NYSE:LEN traded up $2.67 during trading on Wednesday, reaching $187.71. 400,175 shares of the company’s stock traded hands, compared to its average volume of 2,051,722. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $193.80. The company has a 50-day simple moving average of $180.41 and a 200-day simple moving average of $166.34. The firm has a market cap of $51.55 billion, a PE ratio of 12.80, a P/E/G ratio of 1.68 and a beta of 1.61.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $3.91 earnings per share. As a group, analysts predict that Lennar Co. will post 14.28 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.07%. The ex-dividend date is Wednesday, October 9th. Lennar’s payout ratio is 13.60%.

Wall Street Analyst Weigh In

Several research firms have weighed in on LEN. Bank of America boosted their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Wells Fargo & Company lowered Lennar from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $205.00 to $190.00 in a research note on Monday, October 7th. Barclays increased their price objective on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. JMP Securities upped their target price on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 25th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Lennar has a consensus rating of “Hold” and an average target price of $181.11.

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.