Lennar Co. (NYSE:LEN) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in shares of Lennar Co. (NYSE:LEN) by 29.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 208,595 shares of the construction company’s stock after selling 85,329 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Lennar were worth $39,107,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LEN. MQS Management LLC grew its position in Lennar by 32.2% in the third quarter. MQS Management LLC now owns 6,279 shares of the construction company’s stock valued at $1,177,000 after acquiring an additional 1,531 shares in the last quarter. Commonwealth Retirement Investments LLC grew its position in Lennar by 8.3% in the third quarter. Commonwealth Retirement Investments LLC now owns 6,227 shares of the construction company’s stock valued at $1,167,000 after acquiring an additional 476 shares in the last quarter. Prime Capital Investment Advisors LLC grew its position in Lennar by 10.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 4,193 shares of the construction company’s stock valued at $786,000 after acquiring an additional 389 shares in the last quarter. Rakuten Securities Inc. boosted its stake in shares of Lennar by 2,681.3% during the 3rd quarter. Rakuten Securities Inc. now owns 445 shares of the construction company’s stock valued at $83,000 after buying an additional 429 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of Lennar during the 3rd quarter valued at approximately $2,134,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of LEN traded up $2.50 during trading hours on Wednesday, reaching $168.68. 79,245 shares of the company’s stock traded hands, compared to its average volume of 2,043,223. The business’s fifty day simple moving average is $179.96 and its two-hundred day simple moving average is $168.67. The firm has a market capitalization of $45.75 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 1.61 and a beta of 1.62. Lennar Co. has a twelve month low of $125.17 and a twelve month high of $193.80. 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 (NYSE:LEN) last announced 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. The firm had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $3.91 EPS. Analysts predict that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.19%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.25%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LEN. Bank Of America (Bofa) increased their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Wells Fargo & Company reduced their target price on Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Citigroup raised their price objective on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Bank of America raised their price objective on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Wedbush restated a “neutral” rating and set a $144.00 price objective on shares of Lennar in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Lennar has an average rating of “Hold” and a consensus price target of $180.56.

Insiders Place Their Bets

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 9.36% of the company’s stock.

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.