Atlantic Union Bankshares Corp Buys 2,542 Shares of Lennar Co. (NYSE:LEN)

Atlantic Union Bankshares Corp increased its position in Lennar Co. (NYSE:LEN) by 8.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,969 shares of the construction company’s stock after acquiring an additional 2,542 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Lennar were worth $5,806,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Boston Partners lifted its stake in Lennar by 21.5% in the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after purchasing an additional 4,207 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Lennar by 23,048.0% in the third quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock worth $28,209,000 after purchasing an additional 149,812 shares during the period. Fulton Bank N.A. bought a new stake in Lennar during the second quarter valued at $477,000. Smead Capital Management Inc. grew its position in Lennar by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock worth $499,991,000 after buying an additional 89,896 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Lennar by 91.1% during the first quarter. Tidal Investments LLC now owns 14,318 shares of the construction company’s stock worth $2,456,000 after purchasing an additional 6,824 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.36% of the stock is owned by company insiders.

Lennar Stock Performance

Lennar stock opened at $174.10 on Friday. Lennar Co. has a fifty-two week low of $125.17 and a fifty-two week high of $193.80. The stock has a market cap of $47.22 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.63 and a beta of 1.62. The stock’s 50 day simple moving average is $176.93 and its two-hundred day simple moving average is $169.59. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90.

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

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given 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 (DPR) is presently 13.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LEN shares. JMP Securities lifted their target price on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 25th. Royal Bank of Canada upped 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. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Wells Fargo & Company cut their target price on Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Wedbush reissued a “neutral” rating and set a $144.00 price target on shares of Lennar in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $184.29.

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.