Trustmark National Bank Trust Department Buys 306 Shares of Lennar Co. (NYSE:LEN)

Trustmark National Bank Trust Department boosted its position in shares of Lennar Co. (NYSE:LEN) by 2.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,793 shares of the construction company’s stock after buying an additional 306 shares during the period. Trustmark National Bank Trust Department’s holdings in Lennar were worth $2,023,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Edgestream Partners L.P. acquired a new position in Lennar during the first quarter valued at approximately $280,000. Seven Eight Capital LP bought a new position in shares of Lennar in the first quarter worth about $337,000. Clearbridge Investments LLC boosted its stake in shares of Lennar by 339.7% in the 1st quarter. Clearbridge Investments LLC now owns 136,993 shares of the construction company’s stock valued at $23,560,000 after purchasing an additional 105,835 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Lennar by 10.7% during the 1st quarter. CreativeOne Wealth LLC now owns 4,555 shares of the construction company’s stock valued at $783,000 after purchasing an additional 442 shares during the last quarter. Finally, Axxcess Wealth Management LLC acquired a new position in Lennar during the 1st quarter worth approximately $221,000. 81.10% of the stock is owned by institutional investors.

Lennar Stock Performance

NYSE LEN opened at $168.23 on Thursday. 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. The company has a market cap of $45.63 billion, a P/E ratio of 11.14, a PEG ratio of 1.58 and a beta of 1.62. The company has a fifty day simple moving average of $178.67 and a 200 day simple moving average of $169.15.

Lennar (NYSE:LEN) last announced 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 company had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.91 earnings per share. Sell-side analysts predict that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company 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. This represents a $2.00 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Insider Buying and Selling

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar 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 transaction, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LEN has been the topic of a number of research reports. Citigroup boosted their target price on shares of 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 target price on 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 Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 25th. Barclays raised their price objective on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Two investment 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, the stock currently has an average rating of “Hold” and a consensus price target of $180.56.

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.