Kingsview Wealth Management LLC Has $959,000 Stake in Lennar Co. (NYSE:LEN)

Kingsview Wealth Management LLC boosted its holdings in Lennar Co. (NYSE:LEN) by 275.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,113 shares of the construction company’s stock after buying an additional 3,751 shares during the period. Kingsview Wealth Management LLC’s holdings in Lennar were worth $959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LEN. Pacer Advisors Inc. boosted its position 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 worth $452,886,000 after purchasing an additional 396,951 shares during the last quarter. Smead Capital Management Inc. lifted its stake in Lennar by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after buying an additional 89,896 shares during the period. D1 Capital Partners L.P. grew its position in shares of Lennar by 428.9% during the 2nd 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 during the period. Marshall Wace LLP increased its stake in shares of Lennar by 20.9% in the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after acquiring an additional 348,553 shares during the last quarter. Finally, Eminence Capital LP raised its position in shares of Lennar by 14.6% in the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock valued at $98,220,000 after acquiring an additional 83,316 shares during the period. 81.10% of the stock is owned by institutional investors.

Lennar Trading Down 3.0 %

Shares of NYSE:LEN opened at $173.35 on Wednesday. The company’s 50-day moving average price is $177.58 and its two-hundred day moving average price is $169.53. Lennar Co. has a one year low of $125.17 and a one year high of $193.80. 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 stock has a market capitalization of $47.02 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62.

Lennar (NYSE:LEN) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.91 earnings per share. On average, equities analysts forecast that Lennar Co. will post 14.18 EPS for the current fiscal 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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is currently 13.25%.

Analysts Set New Price Targets

Several brokerages have commented on LEN. Keefe, Bruyette & Woods upped their target price 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. Royal Bank of Canada raised their price objective on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Wells Fargo & Company decreased their target price on Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Wedbush reiterated a “neutral” rating and set a $144.00 price objective on shares of Lennar in a report on Friday, September 20th. Finally, JMP Securities increased their target price on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $180.56.

Insider Buying and Selling at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 23,689 shares in the company, valued at $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.36% of the company’s stock.

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.