Cypress Capital Group Has $1.28 Million Stock Holdings in Lennar Co. (NYSE:LEN)

Cypress Capital Group trimmed its holdings in Lennar Co. (NYSE:LEN) by 11.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,826 shares of the construction company’s stock after selling 859 shares during the period. Cypress Capital Group’s holdings in Lennar were worth $1,280,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Boston Partners boosted its holdings in shares of Lennar by 21.5% during the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after buying an additional 4,207 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Lennar by 23,048.0% during the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock worth $28,209,000 after acquiring an additional 149,812 shares during the period. Fulton Bank N.A. bought a new position in Lennar during the 2nd quarter valued at about $477,000. Bayesian Capital Management LP bought a new position in Lennar during the 1st quarter valued at about $996,000. Finally, Tidal Investments LLC raised its stake in shares of Lennar by 91.1% in the first quarter. Tidal Investments LLC now owns 14,318 shares of the construction company’s stock worth $2,456,000 after acquiring an additional 6,824 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LEN has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. upped their price objective on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Bank of America upped their price target 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. JMP Securities increased their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Finally, Evercore ISI reduced their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. 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 company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $180.56.

Insider Buying and Selling at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’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 sale, the director now directly owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.36% of the company’s stock.

Lennar Stock Down 0.3 %

Shares of NYSE LEN opened at $168.23 on Thursday. The firm has a market capitalization of $45.63 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.58 and a beta of 1.62. The business has a 50-day moving average of $178.67 and a 200-day moving average of $169.15. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12 month low of $125.17 and a 12 month 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, topping the consensus estimate of $3.62 by $0.28. The business 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%. Lennar’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.91 earnings per share. Sell-side analysts expect that Lennar Co. will post 14.18 earnings per share 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 given a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.19%. 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.