Pitcairn Co. Sells 2,439 Shares of Lennar Co. (NYSE:LEN)

Pitcairn Co. reduced its position in shares of Lennar Co. (NYSE:LEN) by 41.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,420 shares of the construction company’s stock after selling 2,439 shares during the period. Pitcairn Co.’s holdings in Lennar were worth $641,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oakworth Capital Inc. bought a new stake in shares of Lennar in the third quarter valued at about $27,000. Wolff Wiese Magana LLC increased its position in Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares during the period. GHP Investment Advisors Inc. purchased a new stake in shares of Lennar in the 3rd quarter worth approximately $30,000. New Covenant Trust Company N.A. bought a new position in shares of Lennar during the first quarter valued at approximately $32,000. Finally, Asset Dedication LLC increased its holdings in Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after buying an additional 169 shares during the period. 81.10% of the stock is owned by institutional investors.

Lennar Stock Up 5.6 %

Shares of LEN stock opened at $178.70 on Tuesday. Lennar Co. has a fifty-two week low of $125.17 and a fifty-two week high of $193.80. The firm has a market capitalization of $48.47 billion, a PE ratio of 11.83, a P/E/G ratio of 1.58 and a beta of 1.62. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The stock’s 50-day simple moving average is $177.90 and its 200-day simple moving average is $169.46.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. Lennar’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.91 EPS. Equities analysts expect that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The firm 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. This represents a $2.00 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Insiders Place Their Bets

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.36% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on LEN. JPMorgan Chase & Co. increased their target price on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Wells Fargo & Company cut their target price on Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Citigroup increased their price target on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Bank Of America (Bofa) lifted their price objective on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $180.56.

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.