Lennar Co. (NYSE:LEN) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC decreased its holdings in Lennar Co. (NYSE:LEN) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,105 shares of the construction company’s stock after selling 60 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Lennar were worth $582,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after buying an additional 396,951 shares during the last quarter. D1 Capital Partners L.P. lifted its stake in Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after purchasing an additional 1,962,447 shares during the last quarter. Marshall Wace LLP boosted its holdings in Lennar by 20.9% in the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after purchasing an additional 348,553 shares during the period. Nordea Investment Management AB increased its stake in Lennar by 3.6% during the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after purchasing an additional 60,713 shares during the last quarter. Finally, Eminence Capital LP raised its holdings in shares of Lennar by 14.6% during the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after purchasing an additional 83,316 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

LEN has been the subject of a number of recent research reports. Evercore ISI lowered their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Royal Bank of Canada raised their price target on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a report on Monday, September 23rd. Barclays upped their price objective on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Wells Fargo & Company cut Lennar from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $205.00 to $190.00 in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Lennar has an average rating of “Hold” and an average target price of $181.11.

Lennar Stock Down 1.5 %

Shares of LEN stock opened at $173.28 on Friday. 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 quick ratio of 0.98 and a current ratio of 4.90. The business’s fifty day moving average is $182.05 and its 200-day moving average is $167.08. The stock has a market cap of $47.00 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.61.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same period in the previous year, the company earned $3.91 earnings per share. Lennar’s revenue was up 7.9% compared to the same quarter last year. Equities analysts expect that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

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

About Lennar

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.