Turtle Creek Wealth Advisors LLC Has $7.29 Million Stock Position in Lennar Co. (NYSE:LEN)

Turtle Creek Wealth Advisors LLC cut its stake in Lennar Co. (NYSE:LEN) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 38,899 shares of the construction company’s stock after selling 187 shares during the period. Lennar accounts for 1.5% of Turtle Creek Wealth Advisors LLC’s portfolio, making the stock its 17th biggest position. Turtle Creek Wealth Advisors LLC’s holdings in Lennar were worth $7,293,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LEN. Lakewood Asset Management LLC grew its holdings in Lennar by 0.8% during the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after buying an additional 70 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of Lennar by 1.5% in the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock valued at $730,000 after purchasing an additional 73 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in Lennar by 5.7% during the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after purchasing an additional 74 shares during the last quarter. Quotient Wealth Partners LLC grew its position in Lennar by 5.0% in the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after purchasing an additional 74 shares in the last quarter. Finally, Jupiter Wealth Management LLC increased its stake in Lennar by 1.0% in the 3rd quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock valued at $1,437,000 after buying an additional 75 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Insider Activity

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 9.36% of the company’s stock.

Lennar Price Performance

Shares of NYSE:LEN traded down $0.95 during midday trading on Friday, reaching $168.85. 1,728,376 shares of the company were exchanged, compared to its average volume of 2,049,442. Lennar Co. has a one year low of $125.17 and a one year 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 business’s fifty day moving average is $179.35 and its two-hundred day moving average is $168.76. The stock has a market cap of $45.80 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.56 and a beta of 1.62.

Lennar (NYSE:LEN) last released its quarterly earnings data 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 return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter in the previous year, the company posted $3.91 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. As a group, analysts predict that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

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

Analysts Set New Price Targets

LEN has been the topic of several research reports. Wedbush restated a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. Keefe, Bruyette & Woods boosted their target price on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Royal Bank of Canada boosted their price objective on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Finally, Citigroup increased their target price on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Two equities research 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.com, the stock has an average rating of “Hold” and a consensus target price of $180.56.

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.