13,828 Lennar Corporation $LEN Shares Bought by Vision Capital Management Inc.

Vision Capital Management Inc. grew its position in shares of Lennar Corporation (NYSE:LEN) by 240.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,581 shares of the construction company’s stock after purchasing an additional 13,828 shares during the period. Vision Capital Management Inc.’s holdings in Lennar were worth $1,598,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. KCM Investment Advisors LLC boosted its stake in shares of Lennar by 1.3% in the first quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company’s stock valued at $858,000 after purchasing an additional 125 shares during the period. Wisconsin Wealth Advisors LLC increased its stake in Lennar by 2.2% during the 3rd quarter. Wisconsin Wealth Advisors LLC now owns 6,495 shares of the construction company’s stock worth $530,000 after buying an additional 140 shares during the period. Ritholtz Wealth Management increased its stake in Lennar by 5.4% during the 1st quarter. Ritholtz Wealth Management now owns 2,926 shares of the construction company’s stock worth $254,000 after buying an additional 150 shares during the period. Unison Advisors LLC lifted its holdings in Lennar by 0.4% in the 1st quarter. Unison Advisors LLC now owns 37,815 shares of the construction company’s stock worth $3,284,000 after buying an additional 154 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in Lennar by 4.8% in the 2nd quarter. Wedmont Private Capital now owns 3,460 shares of the construction company’s stock worth $292,000 after buying an additional 157 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Price Performance

LEN opened at $75.86 on Tuesday. The company has a 50-day moving average of $81.59 and a 200-day moving average of $85.80. The company has a market capitalization of $18.05 billion, a P/E ratio of 14.14, a PEG ratio of 2.90 and a beta of 1.36. Lennar Corporation has a 1-year low of $71.78 and a 1-year high of $133.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 4.94.

Lennar (NYSE:LEN) last issued its earnings results on Wednesday, September 16th. The construction company reported $1.23 earnings per share (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 company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $8.32 billion. During the same quarter last year, the company posted $2.00 EPS. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. Equities analysts expect that Lennar Corporation will post 4.87 EPS for the current fiscal year.

Lennar Dividend Announcement

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

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc purchased 1,708,095 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The shares were acquired at an average cost 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 approximately $2,259,118,294.80. The trade was a 6.39% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders purchased 7,502,276 shares of company stock worth $595,303,287. Corporate insiders own 10.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America lowered their target price on Lennar from $77.00 to $70.00 and set an “underperform” rating for the company in a research note on Monday, September 14th. BTIG Research reiterated a “sell” rating and issued a $63.00 price target on shares of Lennar in a research note on Friday, September 18th. Benchmark raised Lennar to a “hold” rating in a report on Thursday, September 3rd. Morgan Stanley started coverage on Lennar in a research report on Thursday, October 1st. They issued an “underweight” rating and a $65.00 target price on the stock. Finally, Melius Research started coverage on Lennar in a research note on Tuesday, October 6th. They set a “sell” rating and a $72.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and ten have assigned a Sell rating to the company. According to MarketBeat, Lennar has a consensus rating of “Reduce” and a consensus price target of $79.00.

About Lennar

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.