Gulf International Bank UK Ltd Sells 916 Shares of Lennar Co. (NYSE:LEN)

Gulf International Bank UK Ltd cut its holdings in shares of Lennar Co. (NYSE:LEN) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,816 shares of the construction company’s stock after selling 916 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Lennar were worth $3,340,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. First National Bank of Mount Dora Trust Investment Services boosted its position in Lennar by 26.3% during the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 16,879 shares of the construction company’s stock valued at $3,164,000 after purchasing an additional 3,514 shares during the last quarter. TKG Advisors LLC increased its holdings in Lennar by 70.0% during the third quarter. TKG Advisors LLC now owns 2,747 shares of the construction company’s stock worth $515,000 after buying an additional 1,131 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Lennar by 8.7% during the third quarter. Asset Management One Co. Ltd. now owns 101,463 shares of the construction company’s stock worth $19,022,000 after acquiring an additional 8,092 shares in the last quarter. Van ECK Associates Corp lifted its stake in Lennar by 10.5% in the third quarter. Van ECK Associates Corp now owns 43,831 shares of the construction company’s stock valued at $7,564,000 after acquiring an additional 4,179 shares during the last quarter. Finally, Confluence Wealth Services Inc. grew its position in shares of Lennar by 2.1% in the 3rd quarter. Confluence Wealth Services Inc. now owns 7,507 shares of the construction company’s stock valued at $1,407,000 after acquiring an additional 157 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LEN has been the subject of several recent analyst reports. JMP Securities raised their target price on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Citigroup lifted their price objective on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. increased their price objective on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, Royal Bank of Canada lifted their target price on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a report on Monday, September 23rd. Two 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. Based on data from MarketBeat.com, Lennar presently has a consensus rating of “Hold” and an average target price of $181.11.

Lennar Stock Performance

NYSE LEN opened at $177.28 on Wednesday. Lennar Co. has a fifty-two week low of $116.62 and a fifty-two week high of $193.80. The stock has a market cap of $48.09 billion, a PE ratio of 11.74, a PEG ratio of 1.59 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 firm’s fifty day moving average price is $181.02 and its two-hundred day moving average price is $168.09.

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

Lennar Dividend Announcement

The firm 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. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.13%. Lennar’s dividend payout ratio is presently 13.25%.

Insider Buying and Selling at Lennar

In related 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 completion of the sale, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 9.36% of the company’s stock.

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.