BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $7.56 Million Position in Lennar Co. (NYSE:LEN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in Lennar Co. (NYSE:LEN) by 14.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,335 shares of the construction company’s stock after selling 6,601 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Lennar were worth $7,562,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Oakworth Capital Inc. acquired a new position in Lennar during the third quarter worth $27,000. Wolff Wiese Magana LLC raised its stake in shares of Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in Lennar in the 3rd quarter worth approximately $30,000. Asset Dedication LLC boosted its position in Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after purchasing an additional 169 shares during the period. Finally, Fortitude Family Office LLC grew its holdings in Lennar by 223.6% during the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after purchasing an additional 161 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now owns 23,689 shares in the company, valued at $4,148,654.57. This represents a 42.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.36% of the company’s stock.

Lennar Stock Up 0.2 %

Shares of NYSE LEN opened at $174.39 on Monday. The business has a fifty day moving average of $176.77 and a two-hundred day moving average of $169.72. 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 52-week low of $125.17 and a 52-week high of $193.80. The stock has a market cap of $47.30 billion, a PE ratio of 11.55, a PEG ratio of 1.63 and a beta of 1.62.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating 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 firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same period in the previous year, the business earned $3.91 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities research analysts expect that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.25%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LEN. Keefe, Bruyette & Woods upped their price objective on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Bank of America boosted their price objective on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. raised their target price on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada increased their price objective on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $184.29.

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.