Fulton Bank N.A. Trims Stock Position in Lennar Co. (NYSE:LEN)

Fulton Bank N.A. cut its position in Lennar Co. (NYSE:LEN) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,007 shares of the construction company’s stock after selling 323 shares during the quarter. Fulton Bank N.A.’s holdings in Lennar were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in LEN. Oakworth Capital Inc. bought a new stake in Lennar during the third quarter valued at $27,000. Wolff Wiese Magana LLC raised its holdings in shares of Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Lennar during the 3rd quarter valued at about $30,000. Asset Dedication LLC increased its position in shares of Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after purchasing an additional 169 shares during the last quarter. Finally, DT Investment Partners LLC raised its stake in Lennar by 523.3% in the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock valued at $35,000 after purchasing an additional 157 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were 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. This trade represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 9.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on LEN. JMP Securities increased their price target 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. Wells Fargo & Company reduced their target price on Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Citigroup reduced their price objective on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Lennar presently has an average rating of “Hold” and a consensus target price of $171.50.

Lennar Stock Down 3.0 %

NYSE LEN opened at $129.58 on Friday. Lennar Co. has a 1 year low of $129.36 and a 1 year high of $193.80. The stock has a market capitalization of $35.15 billion, a PE ratio of 8.58, a PEG ratio of 1.28 and a beta of 1.66. 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 50-day moving average is $156.42 and its 200 day moving average is $167.54.

Lennar (NYSE:LEN) last posted its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same period last year, the firm posted $4.82 earnings per share. Lennar’s quarterly revenue was down 9.3% on a year-over-year basis. Sell-side analysts forecast that Lennar Co. will post 14.11 earnings per share for the current year.

Lennar Company 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.