Quadrature Capital Ltd decreased its holdings in Lennar Co. (NYSE:LEN - Free Report) by 93.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,913 shares of the construction company's stock after selling 90,403 shares during the quarter. Quadrature Capital Ltd's holdings in Lennar were worth $1,108,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in LEN. Oakworth Capital Inc. acquired a new position in shares of Lennar in the third quarter worth $27,000. Wolff Wiese Magana LLC grew its stake in Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company's stock worth $29,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. purchased a new stake in Lennar during the 3rd quarter worth about $30,000. Asset Dedication LLC raised its position in 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 purchasing an additional 169 shares in the last quarter. Finally, DT Investment Partners LLC grew its position in shares of Lennar by 523.3% during the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company's stock worth $35,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.
Shares of NYSE:LEN opened at $163.45 on Friday. The stock has a market capitalization of $44.33 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.39 and a beta of 1.61. Lennar Co. has a one year low of $135.31 and a one year high of $193.80. The company has a 50-day simple moving average of $175.19 and a 200-day simple moving average of $169.83. 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 (NYSE:LEN - Get Free Report) last announced 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. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same period last year, the business posted $3.91 EPS. The company's revenue was up 7.9% on a year-over-year basis. On average, analysts predict that Lennar Co. will post 14.18 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar's dividend payout ratio (DPR) is presently 13.25%.
In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company'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 $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 9.36% of the company's stock.
LEN has been the subject of a number of recent research reports. StockNews.com downgraded shares of Lennar from a "buy" rating to a "hold" rating in a research note on Saturday, September 28th. Evercore ISI lowered their target price on shares of Lennar from $240.00 to $236.00 and set an "outperform" rating for the company in a research note on Monday, September 23rd. Barclays lifted their price target on Lennar from $177.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, September 23rd. Wells Fargo & Company cut their target price on Lennar from $190.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 7th. Finally, Zelman & Associates upgraded shares of Lennar from a "neutral" rating to an "outperform" rating in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $184.29.
View Our Latest Report on LEN
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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