Kingsview Wealth Management LLC Buys 3,751 Shares of Lennar Co. (NYSE:LEN)

Kingsview Wealth Management LLC lifted its stake in Lennar Co. (NYSE:LEN) by 275.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,113 shares of the construction company’s stock after acquiring an additional 3,751 shares during the period. Kingsview Wealth Management LLC’s holdings in Lennar were worth $959,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after acquiring an additional 396,951 shares during the last quarter. Smead Capital Management Inc. boosted its stake in Lennar by 3.5% during 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 period. D1 Capital Partners L.P. grew its holdings in 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 buying an additional 1,962,447 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after buying an additional 348,553 shares during the last quarter. Finally, Eminence Capital LP boosted its position in shares of Lennar by 14.6% in the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock valued at $98,220,000 after acquiring an additional 83,316 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Shares of Lennar stock opened at $173.35 on Wednesday. Lennar Co. has a 1-year low of $125.17 and a 1-year high of $193.80. The firm’s 50-day moving average price is $177.58 and its two-hundred day moving average price is $169.53. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $47.02 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.58 and a beta of 1.62.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion during 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% 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 predict that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued 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 is currently 13.25%.

Insider Buying and Selling at Lennar

In other Lennar 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 transaction, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LEN. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Keefe, Bruyette & Woods increased 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. Bank of America upped their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Bank Of America (Bofa) lifted their price objective on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Wells Fargo & Company reduced their target price on Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lennar currently has an average rating of “Hold” and an average price target of $180.56.

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.