Lennar Co. (NYSE:LEN) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP trimmed its position in shares of Lennar Co. (NYSE:LEN) by 38.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,363 shares of the construction company’s stock after selling 119,027 shares during the period. Bridgewater Associates LP’s holdings in Lennar were worth $36,064,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Lennar by 1.3% during the third quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock worth $1,106,798,000 after buying an additional 73,638 shares during the period. Pacer Advisors Inc. grew its stake in shares of Lennar by 15.1% in the second 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 in the last quarter. Smead Capital Management Inc. raised its stake in shares of Lennar by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after purchasing an additional 89,896 shares in the last quarter. D1 Capital Partners L.P. lifted its holdings in Lennar by 428.9% in the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after purchasing an additional 1,962,447 shares during the period. Finally, Marshall Wace LLP grew its position in 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 buying an additional 348,553 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

LEN has been the subject of a number of research analyst reports. Bank of America upped their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Keefe, Bruyette & Woods increased their price target on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Barclays upped their price objective on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Bank Of America (Bofa) lifted their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Wedbush reissued a “neutral” rating and issued a $144.00 price target on shares of Lennar in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $180.56.

Insider Activity at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction on 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 owns 23,689 shares in the company, valued at $4,148,654.57. This represents a 42.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.36% of the company’s stock.

Lennar Stock Down 3.0 %

LEN stock opened at $173.35 on Wednesday. The company has a 50 day moving average of $177.58 and a two-hundred day moving average of $169.53. 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 Co. has a 12-month low of $125.17 and a 12-month high of $193.80. The company has a market cap of $47.02 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.67 and a beta of 1.62.

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

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. Lennar’s dividend payout ratio is currently 13.25%.

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.