Hartford Investment Management Co. Trims Stock Holdings in Lennar Co. (NYSE:LEN)

Hartford Investment Management Co. cut its holdings in shares of Lennar Co. (NYSE:LEN) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,197 shares of the construction company’s stock after selling 494 shares during the quarter. Hartford Investment Management Co.’s holdings in Lennar were worth $2,849,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Oakworth Capital Inc. acquired a new stake in Lennar in the third quarter valued at $27,000. Wolff Wiese Magana LLC increased its position in shares of Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Lennar in the 1st quarter valued at about $30,000. New Covenant Trust Company N.A. bought a new position in shares of Lennar during the first quarter worth about $32,000. Finally, Asset Dedication LLC grew its stake in Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after purchasing an additional 169 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LEN has been the topic of several research reports. Evercore ISI cut their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research note on Monday, September 23rd. JPMorgan Chase & Co. upped their price target on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Wedbush reaffirmed a “neutral” rating and issued a $144.00 price objective on shares of Lennar in a report on Friday, September 20th. Argus increased their target price on shares of Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Citigroup lifted their price target on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $181.11.

Lennar Trading Down 0.6 %

NYSE:LEN opened at $172.57 on Thursday. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $193.80. The business has a fifty day moving average of $181.94 and a 200-day moving average of $167.02. 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 stock has a market cap of $47.39 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 1.68 and a beta of 1.61.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. Lennar’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $3.91 EPS. Equities analysts predict that Lennar Co. will post 14.28 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be given a $0.50 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.16%. Lennar’s dividend payout ratio (DPR) is 13.60%.

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.