Lennar Co. (NYSE:LEN) Shares Sold by Mirabella Financial Services LLP

Mirabella Financial Services LLP trimmed its stake in shares of Lennar Co. (NYSE:LEN) by 24.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,757 shares of the construction company’s stock after selling 42,099 shares during the quarter. Lennar makes up 1.6% of Mirabella Financial Services LLP’s portfolio, making the stock its 12th biggest position. Mirabella Financial Services LLP’s holdings in Lennar were worth $24,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Oakworth Capital Inc. bought a new position in shares of Lennar during the third quarter worth about $27,000. Wolff Wiese Magana LLC lifted its holdings in Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after buying an additional 140 shares during the last quarter. GHP Investment Advisors Inc. acquired a new position in shares of Lennar in the 3rd quarter worth approximately $30,000. New Covenant Trust Company N.A. bought a new stake in shares of Lennar in the 1st quarter valued at approximately $32,000. Finally, Asset Dedication LLC lifted its stake 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 last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, 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 transaction of $3,064,775.00. Following the completion of 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 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.36% of the stock is currently owned by corporate insiders.

Lennar Stock Performance

Shares of Lennar stock opened at $171.50 on Monday. The stock has a market cap of $46.52 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. Lennar Co. has a 12 month low of $125.17 and a 12 month high of $193.80. 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 business has a fifty day simple moving average of $178.07 and a 200-day simple moving average of $169.33.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28. The company 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 business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.91 EPS. On average, sell-side analysts anticipate that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.17%. Lennar’s payout ratio is 13.25%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LEN. Keefe, Bruyette & Woods upped their target price on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Barclays increased their price objective on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Wells Fargo & Company lowered their price target on Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, Evercore ISI decreased their target price on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Lennar has an average rating of “Hold” and a consensus price target 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.