Heartland Bank & Trust Co Sells 60 Shares of Lennar Co. (NYSE:LEN)

Heartland Bank & Trust Co lowered its stake in shares of Lennar Co. (NYSE:LEN) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,300 shares of the construction company’s stock after selling 60 shares during the quarter. Heartland Bank & Trust Co’s holdings in Lennar were worth $431,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. acquired a new position in Lennar during the 1st quarter valued at about $44,000. Revolve Wealth Partners LLC acquired a new position in Lennar during the 1st quarter valued at about $208,000. Wealth Enhancement Advisory Services LLC lifted its position in Lennar by 2.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 201,644 shares of the construction company’s stock valued at $34,679,000 after purchasing an additional 4,875 shares during the period. Atlantic Union Bankshares Corp lifted its position in Lennar by 7.2% during the 1st quarter. Atlantic Union Bankshares Corp now owns 19,300 shares of the construction company’s stock valued at $3,319,000 after purchasing an additional 1,298 shares during the period. Finally, Tevis Investment Management lifted its position in Lennar by 12.8% during the 1st quarter. Tevis Investment Management now owns 2,744 shares of the construction company’s stock valued at $472,000 after purchasing an additional 312 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

NYSE:LEN opened at $172.57 on Thursday. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $193.80. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $181.94 and a 200 day simple moving average of $167.02. The stock has a market capitalization of $47.39 billion, a PE ratio of 11.73, a P/E/G ratio of 1.68 and a beta of 1.61.

Lennar (NYSE:LEN) last announced its quarterly earnings results 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. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter last year, the firm posted $3.91 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. On average, research analysts expect that Lennar Co. will post 14.28 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared 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 1.16%. The ex-dividend date of this dividend is Wednesday, October 9th. Lennar’s dividend payout ratio is 13.60%.

Analysts Set New Price Targets

LEN has been the topic of a number of research reports. Royal Bank of Canada upped their target price on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research report on Monday, September 23rd. The Goldman Sachs Group downgraded shares of Lennar from a “buy” rating to a “neutral” rating and cut their price target for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. JPMorgan Chase & Co. increased their price target on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods increased their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Two research 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. According to data from MarketBeat.com, Lennar currently has an average rating of “Hold” and a consensus 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.