Lennar Co. (NYSE:LEN) Stock Holdings Reduced by Atria Investments Inc

Atria Investments Inc lessened its stake in shares of Lennar Co. (NYSE:LEN) by 9.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 92,702 shares of the construction company’s stock after selling 10,236 shares during the period. Atria Investments Inc’s holdings in Lennar were worth $17,380,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Equitable Trust Co. boosted its stake in shares of Lennar by 22.4% during the 3rd quarter. Equitable Trust Co. now owns 1,997 shares of the construction company’s stock worth $374,000 after acquiring an additional 366 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Lennar during the 3rd quarter worth about $2,352,000. Stiles Financial Services Inc lifted its position in shares of Lennar by 4.5% during the 3rd quarter. Stiles Financial Services Inc now owns 7,020 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 302 shares during the last quarter. Portside Wealth Group LLC lifted its position in shares of Lennar by 4.7% during the 3rd quarter. Portside Wealth Group LLC now owns 1,871 shares of the construction company’s stock worth $351,000 after purchasing an additional 84 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position in shares of Lennar by 5.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,685 shares of the construction company’s stock worth $878,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on LEN. Bank Of America (Bofa) upped their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Citigroup upped their price target on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada upped their price target on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. Evercore ISI cut their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Finally, StockNews.com cut Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Two investment 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $180.56.

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction 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 transaction, the director now owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.36% of the stock is currently owned by company insiders.

Lennar Stock Up 0.7 %

Shares of LEN opened at $172.58 on Friday. The firm has a market capitalization of $46.81 billion, a price-to-earnings ratio of 11.43, a PEG 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. The business’s fifty day moving average price is $180.40 and its two-hundred day moving average price is $168.26. Lennar Co. has a 52 week low of $118.92 and a 52 week high of $193.80.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates 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 last year, the company earned $3.91 EPS. On average, analysts predict that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is currently 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.