Lennar Co. (NYSE:LEN) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board trimmed its holdings in shares of Lennar Co. (NYSE:LEN) by 24.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,515 shares of the construction company’s stock after selling 23,900 shares during the period. Public Sector Pension Investment Board’s holdings in Lennar were worth $14,158,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Oakworth Capital Inc. bought a new position in shares of Lennar during the third quarter worth about $27,000. Wolff Wiese Magana LLC grew its position in shares of Lennar by 933.3% during the third 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. bought a new position in shares of Lennar during the third quarter worth about $30,000. Asset Dedication LLC grew its position in shares of Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after acquiring an additional 169 shares during the last quarter. Finally, DT Investment Partners LLC grew its position in Lennar by 523.3% in the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock valued at $35,000 after buying an additional 157 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were 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 of the company’s stock, valued at approximately $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 through this hyperlink. 9.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. JMP Securities increased their target price on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 25th. Keefe, Bruyette & Woods upped their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Barclays upped their price target on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Citigroup upped their price target on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada upped their price target on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $184.29.

Lennar Price Performance

NYSE LEN opened at $174.10 on Friday. Lennar Co. has a 12-month low of $125.17 and a 12-month high of $193.80. The stock has a market capitalization of $47.22 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.63 and a beta of 1.62. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average price of $176.93 and a two-hundred day moving average price of $169.59.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same quarter last year, the firm posted $3.91 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts predict that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.50 per share. 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 (DPR) is currently 13.25%.

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.