D1 Capital Partners L.P. Reduces Stock Holdings in Lennar Co. (NYSE:LEN)

D1 Capital Partners L.P. lessened its holdings in Lennar Co. (NYSE:LEN) by 83.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 402,000 shares of the construction company’s stock after selling 2,018,000 shares during the period. Lennar comprises approximately 1.5% of D1 Capital Partners L.P.’s holdings, making the stock its 23rd biggest position. D1 Capital Partners L.P.’s holdings in Lennar were worth $75,367,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LEN. Vinva Investment Management Ltd boosted its stake in shares of Lennar by 9.9% during the 3rd quarter. Vinva Investment Management Ltd now owns 60,697 shares of the construction company’s stock worth $11,352,000 after acquiring an additional 5,470 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in Lennar by 3.7% during the third quarter. CreativeOne Wealth LLC now owns 4,287 shares of the construction company’s stock valued at $804,000 after purchasing an additional 151 shares during the period. Freedom Investment Management Inc. increased its position in Lennar by 39.7% in the third quarter. Freedom Investment Management Inc. now owns 11,066 shares of the construction company’s stock worth $2,075,000 after buying an additional 3,142 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Lennar by 2.6% during the 3rd quarter. Townsquare Capital LLC now owns 16,718 shares of the construction company’s stock valued at $3,134,000 after buying an additional 430 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. lifted its position in shares of Lennar by 7,250.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 294 shares of the construction company’s stock valued at $56,000 after buying an additional 290 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Insider Activity at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s 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 in the company, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.36% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods increased their target price on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Wells Fargo & Company reduced their target price on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Bank Of America (Bofa) increased their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $184.29.

Lennar Stock Up 0.4 %

Shares of LEN opened at $174.10 on Friday. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $176.93 and a 200 day moving average of $169.59. The company has a market cap of $47.22 billion, a PE ratio of 11.53, a P/E/G ratio of 1.63 and a beta of 1.62. Lennar Co. has a 52-week low of $125.17 and a 52-week high of $193.80.

Lennar (NYSE:LEN) last released 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. 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 period last year, the company earned $3.91 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts expect that Lennar Co. will post 14.18 EPS for the current year.

Lennar Dividend Announcement

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