Private Trust Co. NA Acquires 144 Shares of Lennar Co. (NYSE:LEN)

Private Trust Co. NA grew its stake in Lennar Co. (NYSE:LEN) by 22.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 796 shares of the construction company’s stock after acquiring an additional 144 shares during the period. Private Trust Co. NA’s holdings in Lennar were worth $149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Horizon Kinetics Asset Management LLC increased its stake in shares of Lennar by 14.7% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,862 shares of the construction company’s stock worth $1,099,000 after purchasing an additional 752 shares during the period. Brown Brothers Harriman & Co. increased its position in Lennar by 36.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 943 shares of the construction company’s stock worth $177,000 after buying an additional 252 shares during the period. Boston Family Office LLC lifted its holdings in shares of Lennar by 4.1% during the third quarter. Boston Family Office LLC now owns 3,841 shares of the construction company’s stock worth $720,000 after buying an additional 150 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Lennar by 155.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,310 shares of the construction company’s stock valued at $245,000 after acquiring an additional 798 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of Lennar by 13.8% in the third quarter. Daiwa Securities Group Inc. now owns 30,278 shares of the construction company’s stock valued at $5,677,000 after acquiring an additional 3,674 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Up 0.2 %

Shares of LEN opened at $174.48 on Friday. The stock has a market capitalization of $47.33 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.63 and a beta of 1.62. Lennar Co. has a 52 week low of $125.17 and a 52 week high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The stock has a fifty day moving average of $176.77 and a 200-day moving average of $169.68.

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

Lennar Dividend Announcement

The firm also recently declared 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. This represents a $2.00 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is currently 13.25%.

Analyst Ratings Changes

Several analysts have weighed in on LEN shares. Royal Bank of Canada lifted their price objective on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Barclays boosted their price target on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Bank Of America (Bofa) raised their price objective on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Finally, JMP Securities boosted their price target on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $184.29.

Insider Transactions at Lennar

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

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.