Lennar Co. (NYSE:LEN) Holdings Boosted by Moors & Cabot Inc.

Moors & Cabot Inc. lifted its holdings in Lennar Co. (NYSE:LEN) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,075 shares of the construction company’s stock after buying an additional 66 shares during the period. Moors & Cabot Inc.’s holdings in Lennar were worth $577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Oakworth Capital Inc. purchased a new position in Lennar during the 3rd quarter valued at about $27,000. Wolff Wiese Magana LLC boosted its holdings in shares of Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares during the period. GHP Investment Advisors Inc. purchased a new position in Lennar during the third quarter valued at approximately $30,000. Asset Dedication LLC lifted its position in Lennar by 4,225.0% in the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after buying an additional 169 shares in the last quarter. Finally, DT Investment Partners LLC boosted its stake in shares of Lennar by 523.3% during the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock valued at $35,000 after buying an additional 157 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Activity

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the sale, the director now owns 23,689 shares of the company’s stock, valued at $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LEN. Bank of America increased their price objective on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Royal Bank of Canada lifted their price target on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. JMP Securities increased their price objective on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Wedbush reiterated a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Lennar currently has an average rating of “Hold” and an average target price of $180.56.

Lennar Trading Up 0.7 %

Shares of Lennar stock opened at $169.17 on Friday. The company has a market cap of $45.89 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.58 and a beta of 1.62. Lennar Co. has a 1 year low of $125.17 and a 1 year high of $193.80. The company’s fifty day simple moving average is $178.07 and its 200-day simple moving average is $169.20. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter in the previous year, the firm posted $3.91 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts expect that Lennar Co. will post 14.18 EPS for the current year.

Lennar Announces Dividend

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

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.