Lennar Co. (NYSE:LEN) Shares Sold by AIA Group Ltd

AIA Group Ltd trimmed its stake in shares of Lennar Co. (NYSE:LEN) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,670 shares of the construction company’s stock after selling 558 shares during the period. AIA Group Ltd’s holdings in Lennar were worth $2,750,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oakworth Capital Inc. acquired a new stake in Lennar during the third quarter worth about $27,000. Wolff Wiese Magana LLC grew its holdings in Lennar by 933.3% in the third 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 acquired a new stake in Lennar in the first quarter valued at approximately $30,000. GHP Investment Advisors Inc. acquired a new stake in Lennar in the third quarter valued at approximately $30,000. Finally, New Covenant Trust Company N.A. acquired a new stake in Lennar in the first quarter valued at approximately $32,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LEN has been the topic of several research analyst reports. Barclays raised their price objective on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Wedbush reiterated a “neutral” rating and set a $144.00 price target on shares of Lennar in a research report on Friday, September 20th. Bank Of America (Bofa) boosted their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Company dropped their price target on Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price target on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $180.56.

Lennar Price Performance

LEN opened at $171.41 on Friday. The stock’s 50-day moving average price is $180.77 and its 200 day moving average price is $168.09. Lennar Co. has a 12-month low of $118.92 and a 12-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 firm has a market cap of $46.49 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.62 and a beta of 1.62.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping 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 company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter in the prior year, the business earned $3.91 EPS. Lennar’s revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.17%. Lennar’s dividend payout ratio (DPR) is 13.25%.

Insiders Place Their Bets

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the transaction, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.36% of the stock is owned by company insiders.

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.