American Trust Sells 2,192 Shares of Lennar Co. (NYSE:LEN)

American Trust cut its stake in shares of Lennar Co. (NYSE:LENGet Rating) by 44.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,767 shares of the construction company’s stock after selling 2,192 shares during the quarter. American Trust’s holdings in Lennar were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LEN. The Manufacturers Life Insurance Company boosted its position in Lennar by 14.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 12,617,934 shares of the construction company’s stock worth $1,027,993,000 after buying an additional 1,614,706 shares during the period. Sound Shore Management Inc. CT boosted its position in Lennar by 111.9% during the 1st quarter. Sound Shore Management Inc. CT now owns 1,368,189 shares of the construction company’s stock worth $111,056,000 after buying an additional 722,560 shares during the period. Pacer Advisors Inc. lifted its position in shares of Lennar by 290.2% in the 1st quarter. Pacer Advisors Inc. now owns 709,572 shares of the construction company’s stock worth $57,596,000 after purchasing an additional 527,735 shares during the period. Cannell & Co. lifted its position in shares of Lennar by 220.6% in the 1st quarter. Cannell & Co. now owns 583,389 shares of the construction company’s stock worth $47,354,000 after purchasing an additional 401,411 shares during the period. Finally, Prudential Financial Inc. lifted its position in shares of Lennar by 65.5% in the 1st quarter. Prudential Financial Inc. now owns 790,021 shares of the construction company’s stock worth $64,127,000 after purchasing an additional 312,595 shares during the period. 81.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LEN shares. BTIG Research boosted their price target on shares of Lennar from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, June 22nd. JPMorgan Chase & Co. downgraded shares of Lennar from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $83.00 to $80.00 in a research report on Tuesday, July 12th. UBS Group dropped their price target on shares of Lennar from $108.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, June 22nd. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Finally, KeyCorp upgraded shares of Lennar from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $89.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $93.15.

Lennar Stock Performance

Shares of LEN stock opened at $78.47 on Tuesday. The firm has a market capitalization of $22.87 billion, a PE ratio of 5.37, a price-to-earnings-growth ratio of 4.34 and a beta of 1.52. The firm has a fifty day simple moving average of $81.37 and a two-hundred day simple moving average of $79.26. The company has a current ratio of 8.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. Lennar Co. has a 12 month low of $62.54 and a 12 month high of $117.54.

Lennar (NYSE:LENGet Rating) last posted its earnings results on Tuesday, June 21st. The construction company reported $4.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.74. Lennar had a net margin of 14.77% and a return on equity of 21.45%. The firm had revenue of $8.36 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the prior year, the business posted $2.95 EPS. Analysts forecast that Lennar Co. will post 17.12 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 21st. Stockholders of record on Thursday, July 7th were paid a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, July 6th. This represents a $1.50 annualized dividend and a dividend yield of 1.91%. Lennar’s payout ratio is 10.27%.

Insider Transactions at Lennar

In other news, VP David M. Collins sold 15,000 shares of the company’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $82.00, for a total value of $1,230,000.00. Following the completion of the sale, the vice president now owns 41,382 shares in the company, valued at approximately $3,393,324. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.08% of the company’s stock.

Lennar Profile

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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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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