Mount Lucas Management LP Sells 8,593 Shares of Lennar Co. (NYSE:LEN)

Mount Lucas Management LP lowered its position in Lennar Co. (NYSE:LEN) by 60.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,724 shares of the construction company’s stock after selling 8,593 shares during the quarter. Mount Lucas Management LP’s holdings in Lennar were worth $1,073,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of LEN. Pacer Advisors Inc. grew its position in shares of Lennar by 15.1% during the second 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 in the last quarter. D1 Capital Partners L.P. grew its holdings in 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 valued at $362,685,000 after buying an additional 1,962,447 shares in the last quarter. Marshall Wace LLP raised its position in shares of Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after buying an additional 348,553 shares during the last quarter. Eminence Capital LP lifted its holdings in shares of Lennar by 14.6% in the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after buying an additional 83,316 shares in the last quarter. Finally, Bamco Inc. NY boosted its position in shares of Lennar by 3.8% during the first quarter. Bamco Inc. NY now owns 648,867 shares of the construction company’s stock worth $111,592,000 after acquiring an additional 23,483 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Trading Down 0.6 %

Shares of NYSE LEN opened at $168.85 on Friday. The business’s 50 day moving average price is $179.35 and its 200-day moving average price is $168.88. Lennar Co. has a fifty-two week low of $125.17 and a fifty-two week high of $193.80. 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 company has a market cap of $45.80 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 1.58 and a beta of 1.62.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping 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 business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $3.91 earnings per share. On average, sell-side analysts expect that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.18%. Lennar’s dividend payout ratio is currently 13.25%.

Wall Street Analyst Weigh In

Several brokerages have commented on LEN. Barclays boosted their price target 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. JPMorgan Chase & Co. increased their price target on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Royal Bank of Canada upped their price objective on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a report on Monday, September 23rd. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company decreased their price target on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $180.56.

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.36% of the company’s stock.

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.