Lennar Co. (NYSE:LEN) Director Sells $3,064,775.00 in Stock

Lennar Co. (NYSE:LEN) Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction on 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 sale, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Lennar Price Performance

Shares of LEN stock traded down $3.99 during trading hours on Tuesday, hitting $170.10. 4,339,579 shares of the company’s stock were exchanged, compared to its average volume of 2,061,207. The stock’s 50-day moving average is $182.05 and its 200-day moving average is $167.32. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The stock has a market cap of $46.14 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 1.62 and a beta of 1.61. Lennar Co. has a 52 week low of $103.41 and a 52 week high of $193.80.

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, beating the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.91 earnings per share. As a group, research analysts forecast that Lennar Co. will post 14.18 EPS for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio is presently 13.60%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wedbush reissued a “neutral” rating and set a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. Royal Bank of Canada increased their price objective on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Barclays boosted their price target on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Bank of America upped their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $181.11.

Institutional Investors Weigh In On Lennar

A number of institutional investors have recently made changes to their positions in the stock. Boston Partners raised its holdings in shares of Lennar by 21.5% during the first quarter. Boston Partners now owns 23,775 shares of the construction company’s stock valued at $4,089,000 after acquiring an additional 4,207 shares in the last quarter. Norden Group LLC purchased a new stake in Lennar during the 1st quarter valued at $5,592,000. BI Asset Management Fondsmaeglerselskab A S grew its position in Lennar by 544.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,248 shares of the construction company’s stock valued at $5,890,000 after acquiring an additional 28,935 shares during the last quarter. Fulton Bank N.A. bought a new position in Lennar in the 2nd quarter valued at $477,000. Finally, Rockport Wealth LLC bought a new position in Lennar in the 1st quarter valued at $512,000. Institutional investors own 81.10% of the company’s stock.

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.