Lennar Corporation $LEN Shares Sold by Heartland Bank & Trust Co

Heartland Bank & Trust Co lowered its stake in Lennar Corporation (NYSE:LEN) by 5.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,498 shares of the construction company’s stock after selling 146 shares during the quarter. Heartland Bank & Trust Co’s holdings in Lennar were worth $276,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Secured Retirement Advisors LLC acquired a new stake in Lennar during the 1st quarter valued at approximately $926,000. Marks Group Wealth Management Inc grew its stake in Lennar by 15.4% during the 1st quarter. Marks Group Wealth Management Inc now owns 2,183 shares of the construction company’s stock valued at $251,000 after purchasing an additional 292 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Lennar by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 208,763 shares of the construction company’s stock valued at $23,962,000 after purchasing an additional 4,332 shares in the last quarter. Turtle Creek Wealth Advisors LLC grew its stake in Lennar by 24.8% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 42,041 shares of the construction company’s stock valued at $4,825,000 after purchasing an additional 8,357 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc grew its stake in Lennar by 77.7% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company’s stock valued at $419,000 after purchasing an additional 1,596 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Trading Up 3.6%

Shares of NYSE LEN opened at $122.26 on Wednesday. The company has a market cap of $31.18 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 5.49 and a beta of 1.37. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $189.65. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. The stock’s 50 day simple moving average is $129.38 and its 200 day simple moving average is $116.53.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.15. The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business’s revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business posted $3.90 EPS. Equities research analysts expect that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. Lennar’s dividend payout ratio (DPR) is 19.76%.

Wall Street Analyst Weigh In

LEN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective on Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a research note on Monday, September 22nd. JMP Securities increased their target price on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a report on Monday, September 22nd. UBS Group increased their target price on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lennar in a report on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their target price on Lennar from $135.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $121.75.

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.