Lennar Co. (NYSE:LEN) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP lowered its position in Lennar Co. (NYSE:LEN) by 38.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,363 shares of the construction company’s stock after selling 119,027 shares during the quarter. Bridgewater Associates LP owned 0.07% of Lennar worth $36,064,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oakworth Capital Inc. purchased a new position in Lennar during the 3rd quarter valued at about $27,000. Wolff Wiese Magana LLC grew its position in shares of Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. GHP Investment Advisors Inc. acquired a new position in shares of Lennar during the 3rd quarter worth approximately $30,000. New Covenant Trust Company N.A. purchased a new stake in Lennar in the 1st quarter valued at approximately $32,000. Finally, Asset Dedication LLC grew its holdings in 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 buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Buying and Selling at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar 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 completion of the transaction, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LEN. Wedbush reissued a “neutral” rating and issued a $144.00 price target on shares of Lennar in a report on Friday, September 20th. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Evercore ISI cut their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. JMP Securities raised their price objective on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Finally, Citigroup upped their target price on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $180.56.

Lennar Stock Down 3.0 %

Shares of Lennar stock opened at $173.35 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar Co. has a 1-year low of $125.17 and a 1-year high of $193.80. The business has a 50-day moving average of $177.58 and a 200-day moving average of $169.53. The company has a market capitalization of $47.02 billion, a PE ratio of 11.48, a P/E/G ratio of 1.67 and a beta of 1.62.

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

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date 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.