Bridgewater Associates LP Cuts Stock Position in Lennar Co. (NYSE:LEN)

Bridgewater Associates LP lessened its stake in shares of Lennar Co. (NYSE:LEN - Free Report) by 38.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,363 shares of the construction company's stock after selling 119,027 shares during the quarter. Bridgewater Associates LP owned about 0.07% of Lennar worth $36,064,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Oakworth Capital Inc. acquired a new stake in Lennar in the third quarter valued at $27,000. Wolff Wiese Magana LLC grew its holdings in shares of Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company's stock worth $29,000 after acquiring an additional 140 shares during the period. GHP Investment Advisors Inc. acquired a new position in Lennar during the third quarter worth $30,000. New Covenant Trust Company N.A. acquired a new stake in Lennar in the first quarter valued at $32,000. Finally, Asset Dedication LLC boosted its position in shares of Lennar by 4,225.0% in the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company's stock worth $32,000 after buying an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Insider Buying and Selling at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business's stock in a transaction that occurred 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 owns 23,689 shares of the company's stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods increased their price target 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 upped their price target on shares of Lennar from $171.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, September 19th. Barclays increased their price target on shares of Lennar from $177.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. boosted their price target on Lennar from $154.00 to $173.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. Finally, Zelman & Associates raised shares of Lennar from a "neutral" rating to an "outperform" rating in a report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $180.56.

Lennar Price Performance

Shares of NYSE LEN traded up $1.10 during mid-day trading on Wednesday, hitting $174.50. 601,807 shares of the stock traded hands, compared to its average volume of 2,041,115. The firm has a 50 day simple moving average of $177.58 and a two-hundred day simple moving average of $169.53. Lennar Co. has a twelve month low of $125.17 and a twelve month high of $193.80. The company has a market cap of $47.33 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.67 and a beta of 1.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts' consensus estimates of $3.62 by $0.28. The company had revenue of $9.42 billion for 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%. Lennar's revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.91 earnings per share. As a group, equities research analysts forecast 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. Investors of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.15%. Lennar's payout ratio is 13.25%.

Lennar 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.