Lennar Co. (NYSE:LEN) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC reduced its stake in shares of Lennar Co. (NYSE:LEN) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,303 shares of the construction company’s stock after selling 220 shares during the quarter. Metis Global Partners LLC’s holdings in Lennar were worth $1,932,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Oakworth Capital Inc. acquired a new stake in Lennar during the 3rd quarter worth about $27,000. Wolff Wiese Magana LLC boosted its position in Lennar by 933.3% during the third 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 position in shares of Lennar during the third quarter worth approximately $30,000. New Covenant Trust Company N.A. acquired a new position in shares of Lennar in the first quarter valued at $32,000. Finally, Asset Dedication LLC raised its stake in shares of Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after purchasing an additional 169 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Lennar Trading Down 0.5 %

NYSE:LEN opened at $168.90 on Friday. The company has a market capitalization of $45.81 billion, a P/E ratio of 11.19, a PEG ratio of 1.56 and a beta of 1.62. The firm has a fifty day simple moving average of $179.56 and a 200-day simple moving average of $168.66. Lennar Co. has a 12 month low of $125.17 and a 12 month high of $193.80. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. The company had revenue of $9.42 billion during 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%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.91 earnings per share. On average, equities research analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.18%. Lennar’s dividend payout ratio is currently 13.25%.

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 completion of the sale, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of analyst reports. Barclays upped their price target on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Wells Fargo & Company decreased their price target on Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. JMP Securities lifted their target price on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Wedbush reaffirmed a “neutral” rating and issued a $144.00 price objective on shares of Lennar in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. boosted their price objective on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $180.56.

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.