Lennar Co. (NYSE:LEN) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. lessened its stake in shares of Lennar Co. (NYSE:LEN) by 57.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,950 shares of the construction company’s stock after selling 8,100 shares during the period. New England Research & Management Inc.’s holdings in Lennar were worth $1,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Rise Advisors LLC grew its position in shares of Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after buying an additional 121 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in Lennar during the 1st quarter valued at about $30,000. New Covenant Trust Company N.A. purchased a new position in Lennar in the 1st quarter valued at about $32,000. Redmont Wealth Advisors LLC purchased a new stake in Lennar in the 1st quarter valued at about $35,000. Finally, Fortitude Family Office LLC raised its holdings in shares of Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after purchasing an additional 161 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Price Performance

Shares of LEN stock traded down $0.29 during trading hours on Monday, hitting $181.96. The stock had a trading volume of 1,962,483 shares, compared to its average volume of 2,077,134. The stock has a market capitalization of $49.97 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.71 and a beta of 1.61. Lennar Co. has a one year low of $102.90 and a one year high of $193.80. The stock’s 50-day moving average price is $179.65 and its two-hundred day moving average price is $165.70. 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 released its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share 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 business had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same period last year, the business earned $3.91 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Equities analysts forecast that Lennar Co. will post 14.13 EPS for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.10%. Lennar’s payout ratio is currently 13.60%.

Analyst Upgrades and Downgrades

LEN has been the topic of a number of research analyst reports. Citigroup increased their target price on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Bank of America lifted their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Argus lifted their target price on shares of Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Wells Fargo & Company cut Lennar from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $205.00 to $190.00 in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Lennar presently has an average rating of “Hold” and a consensus target price of $181.11.

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.