Fifth Third Wealth Advisors LLC Increases Stock Holdings in Lennar Co. (NYSE:LEN)

Fifth Third Wealth Advisors LLC lifted its holdings in Lennar Co. (NYSE:LEN - Free Report) by 626.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,654 shares of the construction company's stock after purchasing an additional 16,950 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Lennar were worth $3,685,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. D1 Capital Partners L.P. increased its holdings in Lennar by 428.9% during 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 buying an additional 1,962,447 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Lennar by 15.1% during the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company's stock worth $452,886,000 after buying an additional 396,951 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Lennar during the first quarter worth $61,807,000. KBC Group NV increased its holdings in shares of Lennar by 258.3% in the third quarter. KBC Group NV now owns 494,848 shares of the construction company's stock valued at $92,774,000 after purchasing an additional 356,731 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Lennar by 157.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company's stock valued at $98,889,000 after purchasing an additional 351,698 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LEN. Citigroup boosted their target price on shares of Lennar from $164.00 to $196.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. Zelman & Associates raised Lennar from a "neutral" rating to an "outperform" rating in a research note on Monday, September 23rd. JMP Securities lifted their price objective on shares of Lennar from $170.00 to $210.00 and gave the company a "market outperform" rating in a research note on Wednesday, September 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Lennar from $183.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, September 4th. Finally, Wedbush restated a "neutral" rating and issued a $144.00 price objective on shares of Lennar in a research note on Friday, September 20th. Two 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $180.56.

Lennar Trading Up 0.9 %

Shares of NYSE:LEN traded up $1.50 during trading on Tuesday, reaching $169.42. 1,085,241 shares of the company traded hands, compared to its average volume of 2,043,218. The firm has a market capitalization of $45.95 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 1.58 and a beta of 1.62. Lennar Co. has a 52-week low of $125.17 and a 52-week high of $193.80. 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 business's fifty day moving average is $179.10 and its 200-day moving average is $169.08.

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

Lennar Announces Dividend

The business 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 annualized dividend and a dividend yield of 1.18%. Lennar's payout ratio is presently 13.25%.

Insider Activity

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction on 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 filing with the SEC, which is available at the SEC website. Corporate insiders own 9.36% of the company's stock.

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.