Confluence Wealth Services Inc. Has $1.41 Million Holdings in Lennar Co. (NYSE:LEN)

Confluence Wealth Services Inc. increased its stake in shares of Lennar Co. (NYSE:LEN) by 2.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,507 shares of the construction company’s stock after acquiring an additional 157 shares during the period. Confluence Wealth Services Inc.’s holdings in Lennar were worth $1,407,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Oakworth Capital Inc. bought a new stake in Lennar during the third quarter valued at about $27,000. Wolff Wiese Magana LLC boosted its stake in Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares during the period. J.Safra Asset Management Corp bought a new position in Lennar in the 1st quarter worth approximately $30,000. GHP Investment Advisors Inc. acquired a new position in shares of Lennar during the third quarter worth approximately $30,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of Lennar in the first quarter worth $32,000. 81.10% of the stock is owned by institutional investors.

Insider Activity at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction 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 completion of the sale, the director now owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.36% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on LEN. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Keefe, Bruyette & Woods boosted their price target on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Royal Bank of Canada upped their target price on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. Finally, Evercore ISI lowered their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. Two 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.com, Lennar presently has a consensus rating of “Hold” and an average price target of $181.11.

Lennar Stock Performance

Shares of LEN stock opened at $169.66 on Friday. The stock has a market cap of $46.02 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.59 and a beta of 1.62. The stock has a 50-day moving average of $181.34 and a 200-day moving average of $167.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar Co. has a one year low of $113.44 and a one year high of $193.80.

Lennar (NYSE:LEN) last announced its quarterly 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 company had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $3.91 earnings per share. As a group, sell-side analysts expect that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

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.