NuWave Investment Management LLC Purchases Shares of 3,206 Lennar Co. (NYSE:LEN)

NuWave Investment Management LLC bought a new stake in Lennar Co. (NYSE:LEN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,206 shares of the construction company’s stock, valued at approximately $203,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Fishman Jay A Ltd. MI purchased a new position in shares of Lennar in the third quarter valued at $1,771,000. Private Asset Management Inc. purchased a new position in shares of Lennar in the fourth quarter valued at $316,000. Rational Advisors LLC purchased a new position in shares of Lennar in the third quarter valued at $1,438,000. Bank of Nova Scotia increased its position in shares of Lennar by 71.8% in the second quarter. Bank of Nova Scotia now owns 79,890 shares of the construction company’s stock valued at $4,260,000 after buying an additional 33,388 shares in the last quarter. Finally, Parkwood LLC purchased a new position in shares of Lennar in the third quarter valued at $3,969,000. 86.35% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on LEN. Credit Suisse Group upgraded Lennar from a “neutral” rating to an “outperform” rating and raised their price target for the company from $67.00 to $81.00 in a research report on Monday, January 22nd. Mizuho upgraded Lennar from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. Royal Bank of Canada set a $82.00 price target on Lennar and gave the company a “buy” rating in a research report on Friday, January 12th. Zacks Investment Research upgraded Lennar from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Tuesday, January 16th. Finally, UBS Group restated a “buy” rating on shares of Lennar in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Lennar presently has an average rating of “Buy” and an average price target of $67.93.

In other Lennar news, General Counsel Mark Sustana sold 125,000 shares of Lennar stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $69.55, for a total value of $8,693,750.00. Following the completion of the sale, the general counsel now owns 65,720 shares in the company, valued at approximately $4,570,826. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $64.02, for a total value of $1,280,400.00. Following the completion of the transaction, the chief operating officer now directly owns 99,000 shares in the company, valued at $6,337,980. The disclosure for this sale can be found here. Insiders sold a total of 175,000 shares of company stock valued at $12,092,050 in the last 90 days. 12.18% of the stock is owned by company insiders.

Shares of Lennar Co. (LEN) opened at $59.15 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 8.42. The company has a market capitalization of $14,317.92, a PE ratio of 15.81, a P/E/G ratio of 0.63 and a beta of 1.26. Lennar Co. has a 52-week low of $46.53 and a 52-week high of $72.17.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Wednesday, January 10th. The construction company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.21). The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Lennar had a net margin of 6.41% and a return on equity of 12.00%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.34 EPS. analysts expect that Lennar Co. will post 5.29 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 26th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 25th. Lennar’s dividend payout ratio (DPR) is 4.68%.

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About Lennar

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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