Lennar Co. (NYSE:LEN) Director Sells $3,064,775.00 in Stock

Lennar Co. (NYSE:LEN) 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 value of $3,064,775.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Lennar Stock Performance

NYSE:LEN opened at $170.30 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar Co. has a fifty-two week low of $104.68 and a fifty-two week high of $193.80. The company has a market cap of $46.19 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.62 and a beta of 1.61. The stock has a fifty day moving average price of $181.65 and a 200-day moving average price of $167.45.

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

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. Lennar’s dividend payout ratio is currently 13.60%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LEN shares. Keefe, Bruyette & Woods boosted their target price on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Bank Of America (Bofa) upped their price objective on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Evercore ISI decreased their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. Finally, Citigroup upped their price objective on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Two equities research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $181.11.

Institutional Trading of Lennar

Institutional investors and hedge funds have recently modified their holdings of the business. Oakworth Capital Inc. bought a new position in Lennar in the third quarter valued at about $27,000. Wolff Wiese Magana LLC raised its position in Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. J.Safra Asset Management Corp bought a new position in Lennar in the first quarter valued at about $30,000. GHP Investment Advisors Inc. bought a new position in Lennar in the third quarter valued at about $30,000. Finally, New Covenant Trust Company N.A. bought a new position in Lennar in the first quarter valued at about $32,000. 81.10% of the stock is currently owned by institutional investors.

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.