Lennar Co. (NYSE:LEN) Position Reduced by Hancock Whitney Corp

Hancock Whitney Corp trimmed its stake in Lennar Co. (NYSE:LEN - Free Report) by 36.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 46,030 shares of the construction company's stock after selling 26,831 shares during the period. Hancock Whitney Corp's holdings in Lennar were worth $8,630,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in LEN. Axxcess Wealth Management LLC acquired a new stake in shares of Lennar in the 1st quarter valued at $221,000. Price T Rowe Associates Inc. MD lifted its holdings in Lennar by 1.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 350,987 shares of the construction company's stock valued at $60,364,000 after acquiring an additional 6,136 shares during the period. SVB Wealth LLC boosted its holdings in Lennar by 15.9% during the first quarter. SVB Wealth LLC now owns 3,916 shares of the construction company's stock worth $674,000 after buying an additional 538 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Lennar during the 1st quarter worth approximately $996,000. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Lennar by 31.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,802 shares of the construction company's stock valued at $1,686,000 after purchasing an additional 2,332 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LEN shares. Citigroup increased their price target 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. Bank of America upped their price objective on shares of Lennar from $171.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, September 19th. Royal Bank of Canada increased their target price on Lennar from $145.00 to $160.00 and gave the stock an "underperform" rating in a research report on Monday, September 23rd. Barclays raised their price target on shares of Lennar from $177.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. Finally, Wedbush restated a "neutral" rating and set a $144.00 price objective on shares of Lennar in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $180.56.

Lennar Stock Performance

Shares of NYSE:LEN traded up $9.53 on Monday, reaching $178.70. 3,384,206 shares of the company's stock were exchanged, compared to its average volume of 2,047,766. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The business's 50-day moving average is $178.07 and its two-hundred day moving average is $169.33. Lennar Co. has a fifty-two week low of $125.17 and a fifty-two week high of $193.80. The firm has a market capitalization of $48.47 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.58 and a beta of 1.62.

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

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.12%. The ex-dividend date was Wednesday, October 9th. Lennar's payout ratio is currently 13.25%.

Insider Transactions at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar 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 of the company's stock, valued at $4,148,654.57. The trade was a 42.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company 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.