Public Sector Pension Investment Board Sells 23,900 Shares of Lennar Co. (NYSE:LEN)

Public Sector Pension Investment Board reduced its stake in Lennar Co. (NYSE:LEN) by 24.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,515 shares of the construction company’s stock after selling 23,900 shares during the period. Public Sector Pension Investment Board’s holdings in Lennar were worth $14,158,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. CreativeOne Wealth LLC raised its position in Lennar by 3.7% during the third quarter. CreativeOne Wealth LLC now owns 4,287 shares of the construction company’s stock valued at $804,000 after purchasing an additional 151 shares in the last quarter. Freedom Investment Management Inc. grew its stake in shares of Lennar by 39.7% in the third quarter. Freedom Investment Management Inc. now owns 11,066 shares of the construction company’s stock worth $2,075,000 after purchasing an additional 3,142 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Lennar by 2.6% in the third quarter. Townsquare Capital LLC now owns 16,718 shares of the construction company’s stock worth $3,134,000 after purchasing an additional 430 shares during the last quarter. Transamerica Financial Advisors Inc. boosted its position in Lennar by 7,250.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 294 shares of the construction company’s stock valued at $56,000 after acquiring an additional 290 shares in the last quarter. Finally, Avestar Capital LLC bought a new stake in Lennar during the 3rd quarter valued at approximately $222,000. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 0.4 %

Shares of Lennar stock opened at $174.10 on Friday. The company has a market capitalization of $47.22 billion, a P/E ratio of 11.53, a PEG ratio of 1.63 and a beta of 1.62. The company’s fifty day moving average is $176.93 and its two-hundred day moving average is $169.59. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar Co. has a 1 year low of $125.17 and a 1 year high of $193.80.

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

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued 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 dividend yield of 1.15%. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

Insider Activity at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LEN. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Evercore ISI decreased their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. JPMorgan Chase & Co. boosted their target price on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. JMP Securities upped their price objective on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada increased their price target on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Lennar has a consensus rating of “Hold” and a consensus price target of $184.29.

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.