Public Sector Pension Investment Board Lowers Holdings in Lennar Co. (NYSE:LEN)

Public Sector Pension Investment Board cut its holdings in Lennar Co. (NYSE:LEN - Free Report) by 24.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,515 shares of the construction company's stock after selling 23,900 shares during the period. Public Sector Pension Investment Board's holdings in Lennar were worth $14,158,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in Lennar by 1.3% during the third quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company's stock valued at $1,106,798,000 after purchasing an additional 73,638 shares during the period. Pacer Advisors Inc. grew its stake in shares of Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company's stock valued at $452,886,000 after acquiring an additional 396,951 shares during the period. Smead Capital Management Inc. increased its holdings in Lennar by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company's stock worth $499,991,000 after acquiring an additional 89,896 shares in the last quarter. D1 Capital Partners L.P. lifted its holdings in Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company's stock valued at $362,685,000 after purchasing an additional 1,962,447 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Lennar by 20.9% in the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company's stock worth $302,084,000 after purchasing an additional 348,553 shares during the period. Institutional investors own 81.10% of the company's stock.

Insider Buying and Selling at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business's stock in a transaction 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 sale, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LEN shares. Evercore ISI lowered their target price on shares of Lennar from $240.00 to $236.00 and set an "outperform" rating on the stock in a research note on Monday, September 23rd. JPMorgan Chase & Co. boosted their price objective on Lennar from $154.00 to $173.00 and gave the company a "neutral" 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 company an "overweight" rating in a research note on Monday, September 23rd. Bank of America upped their price target on Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, September 19th. Finally, Bank Of America (Bofa) boosted their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Lennar currently has a consensus rating of "Hold" and an average target price of $184.29.

Lennar Trading Up 0.2 %

Shares of NYSE:LEN traded up $0.38 during trading on Friday, hitting $174.48. The company had a trading volume of 825,497 shares, compared to its average volume of 2,038,155. The stock has a market cap of $47.33 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.63 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. The company has a fifty day simple moving average of $176.77 and a two-hundred day simple moving average of $169.68. Lennar Co. has a one year low of $125.17 and a one year high of $193.80.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS 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 company had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same period in the previous year, the firm earned $3.91 earnings per share. Lennar's quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts forecast that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, October 9th. Lennar's payout ratio is currently 13.25%.

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.