1834 Investment Advisors Co. Has $513,000 Position in Lennar Co. (NYSE:LEN)

1834 Investment Advisors Co. trimmed its position in shares of Lennar Co. (NYSE:LEN) by 21.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,735 shares of the construction company’s stock after selling 760 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Lennar were worth $513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. D1 Capital Partners L.P. boosted 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 worth $362,685,000 after buying an additional 1,962,447 shares during the period. Pacer Advisors Inc. lifted its holdings 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 worth $452,886,000 after purchasing an additional 396,951 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of Lennar in the first quarter worth $61,807,000. Jacobs Levy Equity Management Inc. raised its position in Lennar by 157.5% during the 1st 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. Finally, Marshall Wace LLP lifted its holdings in Lennar by 20.9% during the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after buying an additional 348,553 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

LEN has been the subject of a number of analyst reports. Wells Fargo & Company downgraded Lennar from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $205.00 to $190.00 in a research report on Monday, October 7th. The Goldman Sachs Group downgraded shares of Lennar from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $180.00 to $174.00 in a research report on Monday, July 22nd. Bank of America increased their price objective on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. JMP Securities upped their price target on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 25th. Finally, Evercore ISI lowered their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lennar has a consensus rating of “Hold” and a consensus price target of $181.11.

Lennar Stock Down 4.8 %

Shares of NYSE LEN opened at $168.70 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar Co. has a 1 year low of $118.58 and a 1 year high of $193.80. The stock has a market capitalization of $45.76 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.62 and a beta of 1.62. The company has a 50-day moving average price of $180.77 and a 200-day moving average price of $168.09.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm 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 company posted $3.91 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts forecast 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 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 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.