Ascent Group LLC Cuts Stock Holdings in Lennar Co. (NYSE:LEN)

Ascent Group LLC lowered its holdings in Lennar Co. (NYSE:LEN) by 14.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,881 shares of the construction company’s stock after selling 310 shares during the period. Ascent Group LLC’s holdings in Lennar were worth $353,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Bamco Inc. NY increased its position in shares of Lennar by 2.6% in the third quarter. Bamco Inc. NY now owns 711,023 shares of the construction company’s stock worth $133,303,000 after acquiring an additional 17,834 shares in the last quarter. Verition Fund Management LLC increased its position in shares of Lennar by 147.6% in the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock worth $12,978,000 after acquiring an additional 41,264 shares in the last quarter. Atlantic Union Bankshares Corp increased its position in shares of Lennar by 8.9% in the third quarter. Atlantic Union Bankshares Corp now owns 30,969 shares of the construction company’s stock worth $5,806,000 after acquiring an additional 2,542 shares in the last quarter. Vinva Investment Management Ltd increased its position in shares of Lennar by 9.9% in the third quarter. Vinva Investment Management Ltd now owns 60,697 shares of the construction company’s stock worth $11,352,000 after acquiring an additional 5,470 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its position in shares of Lennar by 3.7% in the third quarter. CreativeOne Wealth LLC now owns 4,287 shares of the construction company’s stock worth $804,000 after acquiring an additional 151 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LEN shares. Wells Fargo & Company dropped their price objective on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Bank Of America (Bofa) raised their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Wedbush reaffirmed a “neutral” rating and set a $144.00 price target on shares of Lennar in a report on Friday, September 20th. Royal Bank of Canada raised their price target on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. Finally, Bank of America raised their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $184.29.

Insider Activity at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction dated 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 sale, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.36% of the stock is currently owned by insiders.

Lennar Trading Down 3.5 %

Lennar stock opened at $167.44 on Thursday. The firm’s 50-day moving average is $176.02 and its 200-day moving average is $169.82. 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 Co. has a 1 year low of $130.55 and a 1 year high of $193.80. The company has a market cap of $45.42 billion, a P/E ratio of 11.09, a PEG ratio of 1.44 and a beta of 1.61.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same period last year, the firm posted $3.91 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts expect that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.19%. Lennar’s dividend payout ratio is presently 13.25%.

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.