BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Stock Position in Lennar Co. (NYSE:LEN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in Lennar Co. (NYSE:LEN - Free Report) by 14.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 40,335 shares of the construction company's stock after selling 6,601 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Lennar were worth $7,562,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Moors & Cabot Inc. raised its holdings in Lennar by 2.2% in the 3rd quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company's stock valued at $577,000 after acquiring an additional 66 shares during the period. Lakewood Asset Management LLC increased its position in Lennar by 0.8% during the 2nd quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company's stock worth $1,407,000 after buying an additional 70 shares during the period. Centaurus Financial Inc. lifted its holdings in shares of Lennar by 2.5% during the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company's stock worth $551,000 after buying an additional 71 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its position in shares of Lennar by 1.5% in the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company's stock valued at $730,000 after acquiring an additional 73 shares during the period. Finally, Aaron Wealth Advisors LLC grew its stake in shares of Lennar by 5.7% in the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company's stock valued at $207,000 after acquiring an additional 74 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Down 0.5 %

NYSE LEN traded down $0.90 during trading hours on Monday, hitting $173.49. The company's stock had a trading volume of 1,420,095 shares, compared to its average volume of 2,035,490. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The company's 50-day simple moving average is $176.52 and its two-hundred day simple moving average is $169.78. Lennar Co. has a 52 week low of $130.29 and a 52 week high of $193.80. The company has a market capitalization of $47.06 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.63 and a beta of 1.62.

Lennar (NYSE:LEN - Get Free Report) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.91 earnings per share. Research analysts anticipate that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

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

Insider Activity

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now owns 23,689 shares in the company, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LEN shares. Royal Bank of Canada raised their price objective on Lennar from $145.00 to $160.00 and gave the stock an "underperform" rating in a research note on Monday, September 23rd. Wedbush reissued a "neutral" rating and issued a $144.00 price objective on shares of Lennar in a research note on Friday, September 20th. Keefe, Bruyette & Woods upped their target price on Lennar from $183.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 4th. Bank Of America (Bofa) boosted their price target on Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. raised their price objective on Lennar from $154.00 to $173.00 and gave the company a "neutral" rating in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lennar currently has an average rating of "Hold" and a consensus target price of $184.29.

About Lennar

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.