Lennar Co. (NYSE:LEN) Shares Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC grew its holdings in Lennar Co. (NYSE:LEN) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,783 shares of the construction company’s stock after acquiring an additional 106 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Lennar were worth $1,834,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. River Road Asset Management LLC lifted its holdings in shares of Lennar by 17.0% during the third quarter. River Road Asset Management LLC now owns 378,050 shares of the construction company’s stock worth $70,877,000 after purchasing an additional 54,985 shares during the period. ASB Consultores LLC acquired a new stake in shares of Lennar during the third quarter worth about $204,000. First National Bank of Mount Dora Trust Investment Services lifted its holdings in shares of Lennar by 26.3% during the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 16,879 shares of the construction company’s stock worth $3,164,000 after purchasing an additional 3,514 shares during the period. TKG Advisors LLC lifted its holdings in shares of Lennar by 70.0% during the third quarter. TKG Advisors LLC now owns 2,747 shares of the construction company’s stock worth $515,000 after purchasing an additional 1,131 shares during the period. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Lennar by 8.7% during the third quarter. Asset Management One Co. Ltd. now owns 101,463 shares of the construction company’s stock worth $19,022,000 after purchasing an additional 8,092 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on LEN. Bank of America lifted their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Evercore ISI reduced their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and reduced their price target for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. Wedbush reiterated a “neutral” rating and set a $144.00 price target on shares of Lennar in a research report on Friday, September 20th. Finally, Wells Fargo & Company cut Lennar from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $205.00 to $190.00 in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $181.11.

Lennar Stock Up 2.7 %

Shares of LEN opened at $177.28 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar Co. has a one year low of $116.62 and a one year high of $193.80. The stock has a market capitalization of $48.09 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.59 and a beta of 1.62. The stock has a 50 day moving average price of $181.02 and a 200 day moving average price of $168.09.

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

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.13%. 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 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 of the company’s stock, valued at approximately $4,148,654.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.36% of the stock is currently owned by corporate 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.