Global Wealth Management Investment Advisory Inc. Sells 4,388 Shares of Lennar Co. (NYSE:LEN)

Global Wealth Management Investment Advisory Inc. lowered its stake in Lennar Co. (NYSE:LEN) by 33.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,685 shares of the construction company’s stock after selling 4,388 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Lennar were worth $1,628,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Lakewood Asset Management LLC raised its stake in shares of 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 buying an additional 70 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in shares of Lennar by 1.5% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after buying an additional 73 shares during the period. Aaron Wealth Advisors LLC increased its stake in shares of Lennar by 5.7% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock valued at $207,000 after acquiring an additional 74 shares during the last quarter. Quotient Wealth Partners LLC raised its position in shares of Lennar by 5.0% in the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock valued at $231,000 after acquiring an additional 74 shares during the period. Finally, Catalyst Financial Partners LLC grew its holdings in Lennar by 5.4% during the third quarter. Catalyst Financial Partners LLC now owns 1,510 shares of the construction company’s stock valued at $283,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction on 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 completion of the sale, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 9.36% of the stock is currently owned by corporate insiders.

Lennar Stock Performance

NYSE LEN traded up $1.32 on Tuesday, hitting $173.95. 35,883 shares of the stock were exchanged, compared to its average volume of 2,045,812. The company has a market capitalization of $47.18 billion, a PE ratio of 11.43, a P/E/G ratio of 1.59 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 business’s fifty day moving average is $181.12 and its 200 day moving average is $167.90. Lennar Co. has a 52 week low of $116.62 and a 52 week high of $193.80.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. Lennar’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business posted $3.91 EPS. Research analysts anticipate that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.15%. Lennar’s dividend payout ratio is currently 13.25%.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted 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. JMP Securities increased their price target on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Wedbush reissued a “neutral” rating and set a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. Finally, Royal Bank of Canada upped their price target on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $181.11.

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.