Lennar Co. (NYSE:LEN) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its holdings in shares of Lennar Co. (NYSE:LEN - Free Report) by 11.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,681,766 shares of the construction company's stock after selling 340,090 shares during the period. Lennar accounts for 1.1% of Pacer Advisors Inc.'s portfolio, making the stock its 13th largest position. Pacer Advisors Inc. owned approximately 0.99% of Lennar worth $502,777,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Oakworth Capital Inc. bought a new position in Lennar during the third quarter valued at approximately $27,000. Wolff Wiese Magana LLC increased its holdings in shares of Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company's stock worth $29,000 after purchasing an additional 140 shares during the last quarter. GHP Investment Advisors Inc. bought a new position in shares of Lennar during the 3rd quarter valued at approximately $30,000. Asset Dedication LLC increased its holdings 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 during the last quarter. Finally, DT Investment Partners LLC lifted its stake in shares of Lennar by 523.3% in the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company's stock valued at $35,000 after purchasing an additional 157 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Lennar Price Performance

Shares of NYSE:LEN traded down $0.16 during midday trading on Thursday, reaching $168.07. 1,994,527 shares of the company's stock traded hands, compared to its average volume of 2,042,857. The company has a market cap of $45.59 billion, a P/E ratio of 11.14, a PEG ratio of 1.58 and a beta of 1.62. The company has a fifty day simple moving average of $178.67 and a two-hundred day simple moving average of $169.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar Co. has a 1 year low of $125.17 and a 1 year high of $193.80.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results 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. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter in the prior year, the firm earned $3.91 EPS. The company's revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts predict that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Wednesday, October 9th. Lennar's dividend payout ratio (DPR) is currently 13.25%.

Insiders Place Their Bets

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business'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 sale, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LEN. Keefe, Bruyette & Woods upped their target price on Lennar from $183.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, September 4th. Evercore ISI cut their price target on Lennar from $240.00 to $236.00 and set an "outperform" rating on the stock in a report on Monday, September 23rd. StockNews.com cut shares of Lennar from a "buy" rating to a "hold" rating in a research report on Saturday, September 28th. Bank Of America (Bofa) raised their price target on Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Finally, Citigroup upped their price objective on shares of Lennar from $164.00 to $196.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $180.56.

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.