IFM Investors Pty Ltd Sells 1,130 Shares of Lennar Co. (NYSE:LEN)

IFM Investors Pty Ltd trimmed its stake in Lennar Co. (NYSE:LEN) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,854 shares of the construction company’s stock after selling 1,130 shares during the period. IFM Investors Pty Ltd’s holdings in Lennar were worth $9,159,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Boston Partners lifted its holdings in shares of Lennar by 21.5% during the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after acquiring an additional 4,207 shares during the last quarter. Norden Group LLC bought a new stake in Lennar during the first quarter worth about $5,592,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Lennar by 544.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,248 shares of the construction company’s stock worth $5,890,000 after purchasing an additional 28,935 shares in the last quarter. Fulton Bank N.A. bought a new position in shares of Lennar during the 2nd quarter valued at about $477,000. Finally, Rockport Wealth LLC purchased a new position in shares of Lennar during the 1st quarter valued at about $512,000. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LEN shares. Wells Fargo & Company cut shares of Lennar from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $205.00 to $190.00 in a research report on Monday, October 7th. 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 research report on Monday, September 23rd. Argus upped their price target on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Raymond James downgraded Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Finally, Bank of America raised their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Lennar currently has an average rating of “Hold” and an average target price of $181.11.

Lennar Trading Up 1.9 %

Shares of LEN opened at $175.94 on Friday. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $193.80. The firm has a market capitalization of $48.31 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.68 and a beta of 1.61. The firm’s 50-day moving average price is $181.94 and its 200-day moving average price is $167.02. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last posted its earnings results 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 firm 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%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.91 EPS. Sell-side analysts anticipate that Lennar Co. will post 14.28 EPS for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.60%.

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.