Mount Lucas Management LP Sells 8,593 Shares of Lennar Co. (NYSE:LEN)

Mount Lucas Management LP trimmed its position in shares of Lennar Co. (NYSE:LEN) by 60.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,724 shares of the construction company’s stock after selling 8,593 shares during the period. Mount Lucas Management LP’s holdings in Lennar were worth $1,073,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LEN. D1 Capital Partners L.P. grew 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 worth $362,685,000 after buying an additional 1,962,447 shares during the last quarter. Pacer Advisors Inc. increased its position in Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after purchasing an additional 396,951 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in shares of Lennar in the 1st quarter worth about $61,807,000. KBC Group NV boosted its stake in shares of Lennar by 258.3% during the 3rd quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock valued at $92,774,000 after purchasing an additional 356,731 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Lennar by 157.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock worth $98,889,000 after buying an additional 351,698 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar 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 directly 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 the SEC website. 9.36% of the stock is currently owned by insiders.

Lennar Stock Down 0.6 %

LEN opened at $168.85 on Friday. 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 twelve month low of $125.17 and a twelve month high of $193.80. The stock has a market capitalization of $45.80 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 1.58 and a beta of 1.62. The firm has a 50 day moving average price of $179.35 and a 200-day moving average price of $168.88.

Lennar (NYSE:LEN) last released its quarterly 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. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business posted $3.91 EPS. Equities research analysts forecast that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The firm 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 was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada raised their price objective on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research report on Monday, September 23rd. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Wells Fargo & Company cut their price objective on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, JMP Securities lifted their target price on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $180.56.

Lennar Company 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.