Lennar Co. (NYSE:LEN) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its holdings in Lennar Co. (NYSE:LEN) by 34.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,109 shares of the construction company’s stock after selling 3,227 shares during the quarter. Advisors Asset Management Inc.’s holdings in Lennar were worth $1,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Oakworth Capital Inc. acquired a new stake in shares of Lennar in the third quarter valued at approximately $27,000. Wolff Wiese Magana LLC increased its stake 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 acquiring an additional 140 shares during the last quarter. GHP Investment Advisors Inc. purchased a new position in shares of Lennar during the 3rd quarter worth $30,000. Asset Dedication LLC boosted its position in shares of Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after acquiring an additional 169 shares during the last quarter. Finally, DT Investment Partners LLC increased its position in Lennar by 523.3% during the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after purchasing an additional 157 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction on 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 sale, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on LEN shares. Keefe, Bruyette & Woods boosted their target price on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. JMP Securities increased their price objective on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Evercore ISI reduced their target price on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. 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 report on Thursday, November 7th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $180.56.

Lennar Stock Up 5.6 %

LEN opened at $178.70 on Tuesday. The stock has a market capitalization of $48.47 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar Co. has a one year low of $125.17 and a one year high of $193.80. The business’s 50-day simple moving average is $177.90 and its 200-day simple moving average is $169.46.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion during 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 company’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.91 earnings per share. Analysts anticipate that Lennar Co. will post 14.18 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio is presently 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.