Lennar Co. (NYSE:LEN) Shares Sold by Private Advisory Group LLC

Private Advisory Group LLC lowered its holdings in Lennar Co. (NYSE:LEN) by 45.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,708 shares of the construction company’s stock after selling 15,617 shares during the quarter. Private Advisory Group LLC’s holdings in Lennar were worth $3,507,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. D1 Capital Partners L.P. lifted its holdings in Lennar by 428.9% in the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after acquiring an additional 1,962,447 shares during the period. Pacer Advisors Inc. grew its position in Lennar by 15.1% during the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after buying an additional 396,951 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Lennar in the first quarter valued at $61,807,000. Jacobs Levy Equity Management Inc. grew its position in shares of Lennar by 157.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock valued at $98,889,000 after acquiring an additional 351,698 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Lennar by 20.9% in the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after purchasing an additional 348,553 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Bank Of America (Bofa) lifted their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Company downgraded shares of Lennar from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $205.00 to $190.00 in a research report on Monday. Keefe, Bruyette & Woods raised their target price on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada raised their price objective on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Lennar has an average rating of “Hold” and an average price target of $181.11.

Lennar Price Performance

Shares of LEN opened at $178.20 on Friday. The firm has a 50-day simple moving average of $179.82 and a two-hundred day simple moving average of $166.02. The stock has a market cap of $48.93 billion, a PE ratio of 11.80, a P/E/G ratio of 1.68 and a beta of 1.61. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98.

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

Lennar Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.12%. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

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.