Kingfisher Capital LLC Decreases Position in Lennar Co. (NYSE:LEN)

Kingfisher Capital LLC lowered its stake in shares of Lennar Co. (NYSE:LEN) by 6.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,215 shares of the construction company’s stock after selling 921 shares during the quarter. Kingfisher Capital LLC’s holdings in Lennar were worth $2,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Boston Partners lifted its position in Lennar by 21.5% in 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 during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Lennar by 23,048.0% in the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock valued at $28,209,000 after purchasing an additional 149,812 shares during the last quarter. Fulton Bank N.A. purchased a new position in Lennar during the 2nd quarter worth approximately $477,000. Smead Capital Management Inc. increased 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 during the period. Finally, Tidal Investments LLC lifted its stake in Lennar by 91.1% in the first quarter. Tidal Investments LLC now owns 14,318 shares of the construction company’s stock valued at $2,456,000 after buying an additional 6,824 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LEN shares. Barclays lifted their target price on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. upped their target price on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. JMP Securities upped their price objective on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. Finally, Bank of America lifted 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 research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $184.29.

Lennar Trading Up 0.4 %

Shares of LEN opened at $174.10 on Friday. The firm’s 50-day moving average is $176.93 and its two-hundred day moving average is $169.59. Lennar Co. has a twelve month low of $125.17 and a twelve 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 capitalization of $47.22 billion, a P/E ratio of 11.53, a PEG ratio of 1.63 and a beta of 1.62.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion during 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%. Lennar’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.91 earnings per share. On average, research analysts predict that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced 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 of this dividend was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.15%. Lennar’s dividend payout ratio (DPR) is currently 13.25%.

Insider Buying and Selling at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s 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 directly owns 23,689 shares in the company, valued at $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.36% of the company’s stock.

Lennar 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.