Lennar Co. (NYSE:LEN) Shares Sold by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC lowered its position in shares of Lennar Co. (NYSE:LEN) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,441 shares of the construction company’s stock after selling 292 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Lennar were worth $1,583,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Soditic Asset Management LLP raised its holdings in shares of Lennar by 143.1% during the third quarter. Soditic Asset Management LLP now owns 29,290 shares of the construction company’s stock valued at $5,491,000 after acquiring an additional 17,240 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Lennar by 6.9% during the third quarter. CIBC Asset Management Inc now owns 35,744 shares of the construction company’s stock valued at $6,701,000 after acquiring an additional 2,320 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its holdings in shares of Lennar by 54.5% during the third quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,146 shares of the construction company’s stock valued at $590,000 after acquiring an additional 1,110 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Lennar by 101.2% during the third quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock valued at $1,626,000 after acquiring an additional 4,363 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Lennar by 258.3% during the third quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock valued at $92,774,000 after acquiring an additional 356,731 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Activity

In other 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 sale, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LEN shares. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and cut their price target for the company from $180.00 to $174.00 in a report on Monday, July 22nd. Bank Of America (Bofa) increased their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. StockNews.com cut Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Bank of America increased their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, JMP Securities increased their price target on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $180.56.

Lennar Trading Down 0.1 %

LEN opened at $169.69 on Friday. Lennar Co. has a 52 week low of $125.17 and a 52 week high of $193.80. The business has a fifty day simple moving average of $179.72 and a 200-day simple moving average of $168.65. The firm has a market cap of $46.03 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.56 and a beta of 1.62. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business posted $3.91 earnings per share. On average, equities analysts expect that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The business also recently disclosed 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 1.18%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is currently 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.