Moran Wealth Management LLC Cuts Stake in Lennar Co. (NYSE:LEN)

Moran Wealth Management LLC cut its stake in shares of Lennar Co. (NYSE:LEN) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,680 shares of the construction company’s stock after selling 1,308 shares during the period. Moran Wealth Management LLC’s holdings in Lennar were worth $10,251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LEN. Oakworth Capital Inc. purchased a new position in shares of Lennar in the third quarter valued at $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 buying an additional 140 shares in the last quarter. GHP Investment Advisors Inc. purchased a new position in shares of Lennar in the third quarter worth about $30,000. Asset Dedication LLC lifted its holdings in shares of Lennar by 4,225.0% in the 3rd 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. Finally, DT Investment Partners LLC increased its stake in shares of Lennar by 523.3% in the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock valued at $35,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Citigroup boosted their price target on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a research 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. Finally, Evercore ISI cut their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $180.56.

Insider Transactions at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.36% of the company’s stock.

Lennar Stock Performance

Shares of Lennar stock traded down $0.35 during midday trading on Wednesday, hitting $168.40. The company had a trading volume of 108,000 shares, compared to its average volume of 2,038,491. 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 stock has a market cap of $45.68 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 1.58 and a beta of 1.62. The company has a fifty day simple moving average of $178.87 and a 200 day simple moving average of $169.16.

Lennar (NYSE:LEN) last posted 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 analyst estimates of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. Lennar’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.91 EPS. As a group, analysts predict that Lennar Co. will post 14.18 earnings per share for the current fiscal 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 dividend yield of 1.19%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

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.