TCW Group Inc. Sells 46,136 Shares of Lennar Co. (NYSE:LEN)

TCW Group Inc. lessened its position in Lennar Co. (NYSE:LEN) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 564,413 shares of the construction company’s stock after selling 46,136 shares during the period. TCW Group Inc. owned approximately 0.21% of Lennar worth $105,816,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oakworth Capital Inc. bought a new position in Lennar in the third quarter valued at approximately $27,000. Wolff Wiese Magana LLC boosted its stake in Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares during the period. GHP Investment Advisors Inc. acquired a new stake in shares of Lennar in the 3rd quarter valued at about $30,000. Asset Dedication LLC raised its stake in shares of Lennar by 4,225.0% in the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after purchasing an additional 169 shares during the period. Finally, DT Investment Partners LLC boosted its position in shares of Lennar by 523.3% during the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after buying an additional 157 shares during the period. 81.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research report on Monday, September 23rd. Evercore ISI cut their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Wedbush reaffirmed a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research report on Friday, September 20th. Bank Of America (Bofa) lifted their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, JMP Securities increased their price objective on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $182.59.

Lennar Stock Performance

LEN opened at $161.66 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The stock has a market cap of $43.85 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.35 and a beta of 1.61. Lennar Co. has a 12-month low of $137.95 and a 12-month high of $193.80. The business has a 50 day moving average of $174.76 and a 200-day moving average of $170.01.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 11.51% and a return on equity of 15.47%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.91 earnings per share. On average, equities research analysts expect that Lennar Co. will post 14.11 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 $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.24%. Lennar’s dividend payout ratio is currently 13.25%.

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.