Lennar Co. (NYSE:LEN) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its position in shares of Lennar Co. (NYSE:LEN - Free Report) by 64.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,433 shares of the construction company's stock after selling 6,289 shares during the period. Oppenheimer & Co. Inc.'s holdings in Lennar were worth $644,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Lakewood Asset Management LLC boosted its stake in Lennar by 0.8% during the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company's stock worth $1,407,000 after acquiring an additional 70 shares in the last quarter. NorthCrest Asset Manangement LLC increased its position in Lennar by 1.5% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company's stock valued at $730,000 after buying an additional 73 shares in the last quarter. Aaron Wealth Advisors LLC boosted its holdings in Lennar by 5.7% in the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company's stock worth $207,000 after acquiring an additional 74 shares in the last quarter. Quotient Wealth Partners LLC grew its stake in shares of Lennar by 5.0% in the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company's stock worth $231,000 after acquiring an additional 74 shares during the last quarter. Finally, Jupiter Wealth Management LLC raised its position in shares of Lennar by 1.0% in the 3rd quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company's stock worth $1,437,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Lennar Trading Down 0.3 %

Shares of Lennar stock opened at $168.23 on Thursday. Lennar Co. has a twelve month low of $125.17 and a twelve month high of $193.80. The firm's 50-day moving average price is $178.67 and its 200 day moving average price is $169.15. 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 firm has a market capitalization of $45.63 billion, a PE ratio of 11.14, a P/E/G ratio of 1.58 and a beta of 1.62.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating 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 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 last year, the firm posted $3.91 EPS. On average, sell-side analysts predict that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently announced 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. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar's dividend payout ratio is currently 13.25%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LEN. Keefe, Bruyette & Woods raised their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, September 4th. Zelman & Associates raised Lennar from a "neutral" rating to an "outperform" rating in a research report on Monday, September 23rd. Barclays lifted their target price on Lennar from $177.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, September 23rd. StockNews.com cut Lennar from a "buy" rating to a "hold" rating in a research report on Saturday, September 28th. Finally, Wells Fargo & Company decreased their target price on Lennar from $190.00 to $180.00 and set an "equal weight" rating for the company in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $180.56.

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the 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 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 9.36% of the company's stock.

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.