Lennar Co. (NYSE:LEN) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. cut its stake in shares of Lennar Co. (NYSE:LEN) by 11.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,608 shares of the construction company’s stock after selling 479 shares during the period. Raymond James Trust N.A.’s holdings in Lennar were worth $676,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LEN. Pacer Advisors Inc. lifted its stake in 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 buying an additional 396,951 shares in the last quarter. Smead Capital Management Inc. lifted its position in shares of Lennar by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after acquiring an additional 89,896 shares in the last quarter. D1 Capital Partners L.P. boosted its stake in shares of Lennar by 428.9% in the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after acquiring an additional 1,962,447 shares during the last quarter. Marshall Wace LLP raised its stake in 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. Finally, Eminence Capital LP lifted its holdings in Lennar by 14.6% in the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock valued at $98,220,000 after purchasing an additional 83,316 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Trading Up 5.6 %

Shares of NYSE LEN opened at $178.70 on Tuesday. The stock has a fifty day simple moving average of $177.90 and a 200-day simple moving average of $169.46. Lennar Co. has a twelve month low of $125.17 and a twelve month high of $193.80. 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 $48.47 billion, a PE ratio of 11.83, a PEG ratio of 1.58 and a beta of 1.62.

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

Lennar Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.12%. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

Insider Transactions at Lennar

In related 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 transaction of $3,064,775.00. Following the sale, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

LEN has been the subject of a number of recent research reports. Citigroup increased their target price on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Evercore ISI lowered their target price on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. Barclays increased their price target on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Bank of America boosted their price objective on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada lifted their price target on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $180.56.

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.