Swiss National Bank Sells 8,100 Shares of Lennar Co. (NYSE:LEN)

Swiss National Bank trimmed its holdings in Lennar Co. (NYSE:LEN - Free Report) by 1.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 717,372 shares of the construction company's stock after selling 8,100 shares during the quarter. Swiss National Bank owned 0.26% of Lennar worth $134,493,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LEN. D1 Capital Partners L.P. increased its position in Lennar by 428.9% during the 2nd 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 during the period. Pacer Advisors Inc. raised its position in shares of Lennar by 15.1% during the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company's stock valued at $452,886,000 after buying an additional 396,951 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Lennar during the first quarter valued at approximately $61,807,000. KBC Group NV increased its position in Lennar by 258.3% in the third quarter. KBC Group NV now owns 494,848 shares of the construction company's stock worth $92,774,000 after purchasing an additional 356,731 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Lennar by 157.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company's stock worth $98,889,000 after purchasing an additional 351,698 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LEN. JPMorgan Chase & Co. boosted their price target on shares of Lennar from $154.00 to $173.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. StockNews.com lowered shares of Lennar from a "buy" rating to a "hold" rating in a research note on Saturday, September 28th. Wells Fargo & Company dropped their price objective on shares of Lennar from $190.00 to $180.00 and set an "equal weight" rating for the company in a research note on Thursday, November 7th. Bank Of America (Bofa) lifted their price objective on shares of Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a research note on Friday, September 20th. Finally, Bank of America boosted their target price on shares of Lennar from $171.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, September 19th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $180.56.

Insider Activity at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the transaction, the director now owns 23,689 shares of the company's stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.36% of the stock is owned by corporate insiders.

Lennar Stock Down 0.6 %

NYSE LEN traded down $0.93 during trading hours on Monday, hitting $167.92. The company's stock had a trading volume of 1,656,300 shares, compared to its average volume of 2,047,680. 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 company has a market capitalization of $45.55 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. Lennar Co. has a 52 week low of $125.17 and a 52 week high of $193.80. The company's 50-day simple moving average is $179.35 and its two-hundred day simple moving average is $168.99.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating 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 period last year, the firm earned $3.91 EPS. The business's quarterly revenue was up 7.9% compared to the same quarter last year. Research analysts anticipate that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given 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%.

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.