Camden National Bank purchased a new position in shares of Lennar Co. (NYSE:LEN – Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,335 shares of the construction company’s stock, valued at approximately $250,000.
Several other large investors have also recently added to or reduced their stakes in LEN. Oakworth Capital Inc. purchased a new position in shares of Lennar during the 3rd quarter worth approximately $27,000. Wolff Wiese Magana LLC raised its position in Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after acquiring an additional 140 shares in the last quarter. GHP Investment Advisors Inc. purchased a new stake in shares of Lennar during the 3rd quarter worth $30,000. Asset Dedication LLC grew its stake in shares of Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after purchasing an additional 169 shares during the period. Finally, DT Investment Partners LLC increased its holdings in shares of Lennar by 523.3% in the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock valued at $35,000 after purchasing an additional 157 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Lennar
In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’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 value of $3,064,775.00. Following the transaction, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.36% of the stock is owned by insiders.
Lennar Stock Performance
Lennar (NYSE:LEN – Get Free Report) last announced its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share 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 business had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same period in the prior year, the firm posted $3.91 EPS. The company’s revenue was up 7.9% on a year-over-year basis. On average, research analysts predict that Lennar Co. will post 14.18 earnings per share for the current year.
Lennar Announces Dividend
The company also recently disclosed 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 was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.18%. Lennar’s payout ratio is 13.25%.
Analysts Set New Price Targets
A number of analysts recently commented on the stock. Evercore ISI decreased their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. JPMorgan Chase & Co. boosted their price target on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Wells Fargo & Company dropped their price objective on Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Keefe, Bruyette & Woods upped their target price on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Finally, Barclays lifted their price target on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Lennar currently has a consensus rating of “Hold” and an average price target of $180.56.
Check Out Our Latest Analysis on Lennar
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.
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