National Pension Service Sells 1,951 Shares of Lennar Co. (NYSE:LEN)

by · The Cerbat Gem

National Pension Service lessened its stake in Lennar Co. (NYSE:LEN – Free Report) by 0.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 380,628 shares of the construction company’s stock after selling 1,951 shares during the quarter. National Pension Service owned about 0.14% of Lennar worth $71,360,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LEN. Norden Group LLC acquired a new stake in shares of Lennar in the 1st quarter valued at approximately $349,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Lennar by 1.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,222 shares of the construction company’s stock worth $8,809,000 after purchasing an additional 943 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Lennar in the 1st quarter valued at $702,000. Mediolanum International Funds Ltd bought a new stake in shares of Lennar in the 1st quarter valued at $3,832,000. Finally, Team Hewins LLC acquired a new stake in Lennar during the 1st quarter worth $220,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Price Performance

NYSE:LEN opened at $177.28 on Wednesday. The stock’s 50 day moving average price is $181.02 and its two-hundred day moving average price is $168.09. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $48.09 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 1.59 and a beta of 1.62. Lennar Co. has a 12-month low of $116.62 and a 12-month high of $193.80.

Lennar (NYSE:LEN – Get Free Report) last issued its quarterly earnings results 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. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same period in the previous year, the company posted $3.91 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.25%.

Insider Activity

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar 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 directly owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LEN shares. Barclays increased their price target on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on shares of Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Evercore ISI reduced their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Bank Of America (Bofa) raised their price objective on shares of 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 lowered shares of Lennar from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $205.00 to $190.00 in a research note on Monday, October 7th. Two equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $181.11.

Read Our Latest Report on Lennar

Lennar Profile

(Free Report)

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.

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