Charles Schwab Investment Management Inc. Sells 7,031 Shares of Lennar Co. (NYSE:LEN)

Charles Schwab Investment Management Inc. lessened its stake in Lennar Co. (NYSE:LEN - Free Report) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,571,298 shares of the construction company's stock after selling 7,031 shares during the period. Charles Schwab Investment Management Inc. owned about 0.58% of Lennar worth $294,587,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. boosted its stake in shares of Lennar by 15.1% during the second 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. Smead Capital Management Inc. raised its stake in shares of Lennar by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company's stock valued at $499,991,000 after acquiring an additional 89,896 shares during the last quarter. D1 Capital Partners L.P. grew its stake in shares of Lennar by 428.9% in the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company's stock worth $362,685,000 after purchasing an additional 1,962,447 shares during the last quarter. Marshall Wace LLP increased its holdings in Lennar by 20.9% during the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company's stock valued at $302,084,000 after purchasing an additional 348,553 shares during the period. Finally, Eminence Capital LP raised its position in Lennar by 14.6% during the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company's stock valued at $98,220,000 after purchasing an additional 83,316 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lennar

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 transaction of $3,064,775.00. Following the sale, the director now directly owns 23,689 shares of the company's stock, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.36% of the company's stock.

Lennar Stock Performance

Shares of NYSE LEN traded up $1.10 during trading on Friday, hitting $169.17. The company had a trading volume of 1,821,205 shares, compared to its average volume of 1,918,648. Lennar Co. has a 12 month low of $125.17 and a 12 month high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The firm has a market capitalization of $45.89 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 1.57 and a beta of 1.62. The stock has a 50 day simple moving average of $178.07 and a 200 day simple moving average of $169.20.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.91 earnings per share. As a group, analysts anticipate that Lennar Co. will post 14.18 earnings per share 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 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 yield of 1.18%. Lennar's dividend payout ratio is presently 13.25%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LEN shares. Evercore ISI reduced their target price on Lennar from $240.00 to $236.00 and set an "outperform" rating on the stock in a research note on Monday, September 23rd. Wells Fargo & Company reduced their price target on shares of Lennar from $190.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 7th. Bank Of America (Bofa) lifted their price target on Lennar from $171.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday, September 20th. 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. Finally, Bank of America boosted their price target on Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Lennar currently has a consensus rating of "Hold" and a consensus price target 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.