Raymond James Trust N.A. Decreases Holdings in Lennar Co. (NYSE:LEN)

Raymond James Trust N.A. lowered its holdings in Lennar Co. (NYSE:LEN) by 11.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,608 shares of the construction company’s stock after selling 479 shares during the quarter. Raymond James Trust N.A.’s holdings in Lennar were worth $676,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LEN. Price T Rowe Associates Inc. MD raised its holdings in Lennar by 1.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 350,987 shares of the construction company’s stock worth $60,364,000 after purchasing an additional 6,136 shares in the last quarter. SVB Wealth LLC raised its stake in Lennar by 15.9% during the 1st quarter. SVB Wealth LLC now owns 3,916 shares of the construction company’s stock worth $674,000 after acquiring an additional 538 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Lennar in the first quarter valued at $996,000. B. Riley Wealth Advisors Inc. grew its holdings in shares of Lennar by 31.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 9,802 shares of the construction company’s stock worth $1,686,000 after purchasing an additional 2,332 shares during the last quarter. Finally, Redwood Investment Management LLC acquired a new stake in shares of Lennar during the first quarter worth about $1,546,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the transaction, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. The trade was a 42.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. 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 research note on Monday, September 23rd. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Barclays increased their target price on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Evercore ISI dropped their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $180.56.

Lennar Stock Performance

Shares of LEN opened at $178.70 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. Lennar Co. has a 52-week low of $125.17 and a 52-week high of $193.80. The company has a 50-day simple moving average of $177.90 and a 200-day simple moving average of $169.46. The company has a market capitalization of $48.47 billion, a PE ratio of 11.83, a P/E/G ratio of 1.58 and a beta of 1.62.

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

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.25%.

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.