Community Bank N.A. Acquires 570 Shares of Lennar Co. (NYSE:LEN)

Community Bank N.A. increased its holdings in Lennar Co. (NYSE:LEN) by 14.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,465 shares of the construction company’s stock after purchasing an additional 570 shares during the quarter. Community Bank N.A.’s holdings in Lennar were worth $837,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bamco Inc. NY increased its stake in Lennar by 2.6% in the 3rd quarter. Bamco Inc. NY now owns 711,023 shares of the construction company’s stock worth $133,303,000 after purchasing an additional 17,834 shares during the period. Verition Fund Management LLC grew its holdings in shares of Lennar by 147.6% in the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock worth $12,978,000 after purchasing an additional 41,264 shares during the last quarter. Atlantic Union Bankshares Corp increased its stake in shares of Lennar by 8.9% in the third quarter. Atlantic Union Bankshares Corp now owns 30,969 shares of the construction company’s stock worth $5,806,000 after buying an additional 2,542 shares during the period. Vinva Investment Management Ltd raised its holdings in Lennar by 9.9% during the 3rd quarter. Vinva Investment Management Ltd now owns 60,697 shares of the construction company’s stock valued at $11,352,000 after buying an additional 5,470 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in Lennar by 3.7% in the 3rd quarter. CreativeOne Wealth LLC now owns 4,287 shares of the construction company’s stock worth $804,000 after acquiring an additional 151 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Lennar Trading Down 0.5 %

NYSE:LEN opened at $173.49 on Tuesday. The firm has a market capitalization of $47.06 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 1.63 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 has a fifty day moving average price of $176.52 and a 200-day moving average price of $169.78. Lennar Co. has a one year low of $130.29 and a one year high of $193.80.

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

Lennar Announces Dividend

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

Insider Transactions at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was 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 owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. 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. Royal Bank of Canada increased their price objective on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a report on Monday, September 23rd. Wedbush restated a “neutral” rating and set 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 research note on Saturday, September 28th. Finally, Wells Fargo & Company reduced their price objective on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $184.29.

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.