Clear Harbor Asset Management LLC Sells 58 Shares of Lennar Co. (NYSE:LEN)

Clear Harbor Asset Management LLC lessened its position in shares of Lennar Co. (NYSE:LEN) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,198 shares of the construction company’s stock after selling 58 shares during the period. Clear Harbor Asset Management LLC’s holdings in Lennar were worth $2,474,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. D1 Capital Partners L.P. raised its position in shares of 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 worth $362,685,000 after buying an additional 1,962,447 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Lennar by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after acquiring an additional 396,951 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Lennar during the 1st quarter valued at about $61,807,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Lennar by 157.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock worth $98,889,000 after purchasing an additional 351,698 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of 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 last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Stock Down 1.5 %

NYSE LEN 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 stock has a market capitalization of $47.00 billion, a PE ratio of 11.48, a PEG ratio of 1.62 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The business’s 50-day moving average is $182.08 and its 200 day moving average is $167.15.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share 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 last year, the company earned $3.91 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders 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 annualized dividend and a dividend yield of 1.15%. Lennar’s dividend payout ratio is 13.25%.

Analyst Ratings Changes

A number of research firms have commented on LEN. Royal Bank of Canada boosted their price target on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Bank of America increased their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Wells Fargo & Company lowered Lennar from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $205.00 to $190.00 in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their target price on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $181.11.

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.