Private Trust Co. NA Purchases 144 Shares of Lennar Co. (NYSE:LEN)

Private Trust Co. NA boosted its position in Lennar Co. (NYSE:LEN) by 22.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 796 shares of the construction company’s stock after acquiring an additional 144 shares during the period. Private Trust Co. NA’s holdings in Lennar were worth $149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. acquired a new stake in shares of Lennar during the 3rd quarter worth approximately $27,000. Wolff Wiese Magana LLC grew its holdings in Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after acquiring an additional 140 shares during the period. GHP Investment Advisors Inc. bought a new stake in shares of Lennar during the 3rd quarter valued at $30,000. Asset Dedication LLC lifted its stake in shares of Lennar by 4,225.0% in the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after purchasing an additional 169 shares during the period. Finally, DT Investment Partners LLC grew its stake in shares of Lennar by 523.3% during the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after purchasing an additional 157 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. The trade was a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.36% of the company’s stock.

Lennar Stock Performance

Shares of LEN stock opened at $174.48 on Friday. Lennar Co. has a 12 month low of $125.17 and a 12 month high of $193.80. The company’s fifty day simple moving average is $176.77 and its 200-day simple moving average is $169.68. The firm has a market cap of $47.33 billion, a PE ratio of 11.55, a P/E/G ratio of 1.63 and a beta of 1.62. 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 (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.91 EPS. Equities research analysts expect that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is 13.25%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LEN. Barclays raised their target price on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Evercore ISI reduced their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research note on Monday, September 23rd. Bank of America upped their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Finally, Royal Bank of Canada raised their price objective on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $184.29.

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.