Turtle Creek Wealth Advisors LLC Cuts Stake in Lennar Co. (NYSE:LEN)

Turtle Creek Wealth Advisors LLC trimmed its holdings in shares of Lennar Co. (NYSE:LEN) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,899 shares of the construction company’s stock after selling 187 shares during the period. Lennar accounts for about 1.5% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 17th biggest holding. Turtle Creek Wealth Advisors LLC’s holdings in Lennar were worth $7,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LEN. Pacer Advisors Inc. grew its position in Lennar by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after purchasing an additional 396,951 shares during the last quarter. D1 Capital Partners L.P. boosted its position in shares of Lennar by 428.9% in the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after purchasing an additional 1,962,447 shares during the period. Marshall Wace LLP lifted its position in shares of Lennar by 20.9% in the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after acquiring an additional 348,553 shares in the last quarter. Eminence Capital LP boosted its position in shares of Lennar by 14.6% in the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after buying an additional 83,316 shares during the period. Finally, Bamco Inc. NY increased its holdings in shares of Lennar by 3.8% in the 1st quarter. Bamco Inc. NY now owns 648,867 shares of the construction company’s stock valued at $111,592,000 after purchasing an additional 23,483 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Price Performance

LEN stock traded down $0.95 during trading on Friday, hitting $168.85. The company had a trading volume of 1,728,376 shares, compared to its average volume of 2,049,442. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The company has a fifty day moving average price of $179.35 and a two-hundred day moving average price of $168.76. Lennar Co. has a fifty-two week low of $125.17 and a fifty-two week high of $193.80. The company has a market cap of $45.80 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.56 and a beta of 1.62.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter last year, the company posted $3.91 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts expect that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is currently 13.25%.

Insider Transactions at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were 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 in the company, valued at $4,148,654.57. The trade was a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup increased their target price on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada boosted their target price on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. Wedbush reaffirmed a “neutral” rating and set a $144.00 price target on shares of Lennar in a research note on Friday, September 20th. Evercore ISI cut their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Finally, StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lennar presently has a consensus rating of “Hold” and a consensus price target of $180.56.

Lennar Profile

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.