Sanctuary Advisors LLC Acquires 3,712 Shares of Lennar Co. (NYSE:LEN)

Sanctuary Advisors LLC lifted its holdings in shares of Lennar Co. (NYSE:LEN) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 43,049 shares of the construction company’s stock after purchasing an additional 3,712 shares during the period. Sanctuary Advisors LLC’s holdings in Lennar were worth $8,071,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in LEN. Moors & Cabot Inc. increased its holdings in shares of Lennar by 2.2% in the third quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock worth $577,000 after buying an additional 66 shares during the period. Centaurus Financial Inc. lifted its position in Lennar by 2.5% in the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock valued at $551,000 after purchasing an additional 71 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of Lennar by 5.7% during the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock valued at $207,000 after purchasing an additional 74 shares during the period. Quotient Wealth Partners LLC grew its holdings in shares of Lennar by 5.0% in the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after purchasing an additional 74 shares during the last quarter. Finally, Commerce Bank raised its holdings in Lennar by 0.5% during the 3rd quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock valued at $2,826,000 after buying an additional 74 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Lennar Stock Performance

Shares of LEN opened at $154.39 on Friday. Lennar Co. has a 52 week low of $140.65 and a 52 week 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 stock has a market cap of $41.88 billion, a P/E ratio of 10.22, a P/E/G ratio of 1.31 and a beta of 1.61. The business’s 50 day moving average price is $172.46 and its 200-day moving average price is $169.96.

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, beating the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $3.91 earnings per share. Equities research analysts anticipate that Lennar Co. will post 14.11 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Analyst Ratings Changes

A number of brokerages have issued reports on LEN. Barclays lowered shares of Lennar from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $210.00 to $181.00 in a report on Wednesday. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Bank of America increased their price objective on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Wells Fargo & Company reduced 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. Finally, Royal Bank of Canada raised their price target on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $183.76.

Insider Activity at Lennar

In related 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 sale, the director now directly owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.36% of the stock is owned by insiders.

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.