Lennar Co. (NYSE:LEN) Shares Sold by Mirabella Financial Services LLP

Mirabella Financial Services LLP cut its holdings in Lennar Co. (NYSE:LEN - Free Report) by 24.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 130,757 shares of the construction company's stock after selling 42,099 shares during the period. Lennar accounts for about 1.6% of Mirabella Financial Services LLP's holdings, making the stock its 12th biggest position. Mirabella Financial Services LLP's holdings in Lennar were worth $24,514,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Brown Brothers Harriman & Co. lifted its position in Lennar by 36.5% during the third quarter. Brown Brothers Harriman & Co. now owns 943 shares of the construction company's stock worth $177,000 after buying an additional 252 shares during the period. Boston Family Office LLC raised its holdings in shares of Lennar by 4.1% in the 3rd quarter. Boston Family Office LLC now owns 3,841 shares of the construction company's stock worth $720,000 after purchasing an additional 150 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in shares of Lennar by 155.9% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,310 shares of the construction company's stock valued at $245,000 after purchasing an additional 798 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Lennar by 13.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 30,278 shares of the construction company's stock worth $5,677,000 after purchasing an additional 3,674 shares during the period. Finally, Summit Trail Advisors LLC grew its stake in Lennar by 36.7% during the third quarter. Summit Trail Advisors LLC now owns 2,990 shares of the construction company's stock worth $561,000 after buying an additional 803 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company's stock in a transaction dated 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 completion of the sale, the director now owns 23,689 shares of the company's stock, valued at $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 9.36% of the company's stock.

Lennar Stock Performance

Lennar stock traded up $9.53 during mid-day trading on Monday, reaching $178.70. The company's stock had a trading volume of 3,384,206 shares, compared to its average volume of 2,047,766. The firm has a market cap 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 Co. has a twelve month low of $125.17 and a twelve month high of $193.80. The business has a 50 day moving average price of $178.07 and a 200-day moving average price of $169.33. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.28. The firm 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 quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.91 earnings per share. Sell-side analysts predict that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LEN. Keefe, Bruyette & Woods lifted their target price on shares of Lennar from $183.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, September 4th. Bank Of America (Bofa) upped their target price on Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a research report on Friday, September 20th. Citigroup raised their target price on Lennar from $164.00 to $196.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. StockNews.com cut Lennar from a "buy" rating to a "hold" rating in a report on Saturday, September 28th. Finally, Wells Fargo & Company dropped their price objective on shares of Lennar from $190.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $180.56.

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.