D1 Capital Partners L.P. Sells 2,018,000 Shares of Lennar Co. (NYSE:LEN)

D1 Capital Partners L.P. reduced its stake in shares of Lennar Co. (NYSE:LEN) by 83.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 402,000 shares of the construction company’s stock after selling 2,018,000 shares during the period. Lennar makes up 1.5% of D1 Capital Partners L.P.’s investment portfolio, making the stock its 23rd biggest position. D1 Capital Partners L.P. owned about 0.15% of Lennar worth $75,367,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its position in Lennar by 31.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 9,802 shares of the construction company’s stock valued at $1,686,000 after purchasing an additional 2,332 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Lennar by 91.1% in the 1st quarter. Tidal Investments LLC now owns 14,318 shares of the construction company’s stock worth $2,456,000 after acquiring an additional 6,824 shares during the last quarter. LRI Investments LLC bought a new position in shares of Lennar during the 1st quarter valued at $131,000. Swedbank AB bought a new position in shares of Lennar during the 1st quarter valued at $28,998,000. Finally, Cetera Investment Advisers grew its holdings in shares of Lennar by 54.1% during the 1st quarter. Cetera Investment Advisers now owns 42,797 shares of the construction company’s stock valued at $7,360,000 after purchasing an additional 15,024 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’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 directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.36% of the stock is owned by company insiders.

Lennar Trading Up 0.4 %

Shares of NYSE LEN opened at $174.10 on Friday. Lennar Co. has a 1 year low of $125.17 and a 1 year high of $193.80. The stock has a market cap of $47.22 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 1.63 and a beta of 1.62. The firm has a 50-day moving average of $176.93 and a 200 day moving average of $169.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98.

Lennar (NYSE:LEN) last issued its quarterly 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. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same period last year, the company posted $3.91 EPS. Lennar’s revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. Lennar’s dividend payout ratio is currently 13.25%.

Analyst Ratings Changes

LEN has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. JMP Securities increased their price target on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 25th. Bank of America increased their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, Royal Bank of Canada increased their price target on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $184.29.

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.