Fisher Asset Management LLC Sells 18,786 Shares of Lennar Co. (NYSE:LEN)

Fisher Asset Management LLC trimmed its stake in Lennar Co. (NYSE:LEN - Free Report) by 15.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,120 shares of the construction company's stock after selling 18,786 shares during the period. Fisher Asset Management LLC's holdings in Lennar were worth $18,770,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. D1 Capital Partners L.P. boosted its position in Lennar by 428.9% in the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company's stock valued at $362,685,000 after buying an additional 1,962,447 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company's stock worth $452,886,000 after acquiring an additional 396,951 shares in the last quarter. KBC Group NV lifted its position 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 worth $92,774,000 after purchasing an additional 356,731 shares in the last quarter. Marshall Wace LLP grew its position in Lennar by 20.9% in the second 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 in the last quarter. Finally, Swedbank AB acquired a new stake in Lennar in the 1st quarter valued at $28,998,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Price Performance

Shares of NYSE LEN traded up $0.70 during mid-day trading on Thursday, reaching $174.10. The company had a trading volume of 1,099,801 shares, compared to its average volume of 2,043,427. Lennar Co. has a one year low of $125.17 and a one year high of $193.80. The business's 50-day simple moving average is $177.30 and its 200 day simple moving average is $169.56. 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 cap of $47.22 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.67 and a beta of 1.62.

Lennar (NYSE:LEN - Get Free Report) last issued its earnings results 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 company 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 period in the previous year, the company earned $3.91 EPS. On average, research analysts predict that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm 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 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 currently 13.25%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LEN shares. Citigroup raised their price objective on Lennar from $164.00 to $196.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. Bank Of America (Bofa) upped their price objective on Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a research note on Friday, September 20th. Wells Fargo & Company decreased their target price on shares of Lennar from $190.00 to $180.00 and set an "equal weight" rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada upped their price target on shares of Lennar from $145.00 to $160.00 and gave the stock an "underperform" rating in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lennar from $154.00 to $173.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $184.29.

Insider Activity at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company's stock in a transaction 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 transaction, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.36% of the stock is currently owned by insiders.

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.