Passumpsic Savings Bank Acquires 452 Shares of Lennar Co. (NYSE:LEN)

Passumpsic Savings Bank grew its holdings in Lennar Co. (NYSE:LEN) by 3.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,872 shares of the construction company’s stock after acquiring an additional 452 shares during the period. Passumpsic Savings Bank’s holdings in Lennar were worth $2,413,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its holdings in Lennar by 1.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock worth $1,106,798,000 after acquiring an additional 73,638 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Lennar by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after purchasing an additional 396,951 shares during the last quarter. Smead Capital Management Inc. boosted its stake in shares of Lennar by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after purchasing an additional 89,896 shares during the last quarter. D1 Capital Partners L.P. boosted its stake in shares of Lennar by 428.9% in 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 purchasing an additional 1,962,447 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Lennar by 20.9% in the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after purchasing an additional 348,553 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were 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 in the company, valued at approximately $4,148,654.57. This 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. Corporate insiders own 9.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Barclays lowered shares of Lennar from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $210.00 to $181.00 in a research note on Wednesday. JMP Securities raised their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Wedbush restated a “neutral” rating and set a $144.00 target price on shares of Lennar in a report on Friday, September 20th. Finally, Bank Of America (Bofa) raised their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Lennar has a consensus rating of “Hold” and a consensus target price of $182.59.

Lennar Stock Performance

NYSE LEN opened at $161.67 on Wednesday. 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 capitalization of $43.85 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.35 and a beta of 1.61. The company has a fifty day moving average of $174.76 and a 200-day moving average of $170.01. Lennar Co. has a 52-week low of $137.95 and a 52-week high of $193.80.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (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 firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter in the previous year, the company earned $3.91 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities research analysts predict that Lennar Co. will post 14.11 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 1.24%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

Lennar Company 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.