Lennar Co. (NYSE:LEN) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. grew its position in shares of Lennar Co. (NYSE:LEN) by 36.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 943 shares of the construction company’s stock after purchasing an additional 252 shares during the period. Brown Brothers Harriman & Co.’s holdings in Lennar were worth $177,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Moors & Cabot Inc. increased its position in shares of Lennar by 2.2% during the third quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock worth $577,000 after acquiring an additional 66 shares during the period. Lakewood Asset Management LLC increased its position in shares of Lennar by 0.8% during the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after acquiring an additional 70 shares during the period. Centaurus Financial Inc. increased its position in shares of Lennar by 2.5% during the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock worth $551,000 after acquiring an additional 71 shares during the period. NorthCrest Asset Manangement LLC increased its position in shares of Lennar by 1.5% during the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after acquiring an additional 73 shares during the period. Finally, Aaron Wealth Advisors LLC increased its position in shares of Lennar by 5.7% during the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after acquiring an additional 74 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.36% of the stock is owned by insiders.

Lennar Price Performance

Shares of LEN opened at $174.16 on Thursday. Lennar Co. has a fifty-two week low of $125.17 and a fifty-two week high of $193.80. The company has a market capitalization of $47.24 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.67 and a beta of 1.62. The firm has a 50-day simple moving average of $177.30 and a 200-day simple moving average of $169.56. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.91 earnings per share. On average, equities research analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. Lennar’s payout ratio is currently 13.25%.

Analysts Set New Price Targets

Several equities analysts recently commented on LEN shares. Wedbush reissued a “neutral” rating and issued a $144.00 target price on shares of Lennar in a report on Friday, September 20th. StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Barclays increased their target price on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Bank Of America (Bofa) increased their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Bank of America increased their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Lennar presently has an average rating of “Hold” and an average target price of $184.29.

Lennar Company 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.