Trust Co. of Oklahoma Decreases Stake in Lennar Co. (NYSE:LEN)

Trust Co. of Oklahoma lowered its stake in Lennar Co. (NYSE:LEN) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,491 shares of the construction company’s stock after selling 150 shares during the period. Trust Co. of Oklahoma’s holdings in Lennar were worth $467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC increased its stake in shares of Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after acquiring an additional 121 shares during the period. J.Safra Asset Management Corp acquired a new stake in shares of Lennar in the first quarter worth $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Lennar in the first quarter worth $32,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Lennar in the first quarter worth $35,000. Finally, Fortitude Family Office LLC increased its stake in shares of Lennar by 223.6% in the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after acquiring an additional 161 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Shares of NYSE:LEN traded up $4.37 during midday trading on Tuesday, hitting $185.97. The company’s stock had a trading volume of 875,312 shares, compared to its average volume of 2,057,007. The business’s 50 day simple moving average is $180.15 and its 200 day simple moving average is $166.25. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The company has a market cap of $51.07 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61. Lennar Co. has a 12-month low of $102.90 and a 12-month high of $193.80.

Lennar (NYSE:LEN) last posted its quarterly earnings results 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. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $3.91 earnings per share. On average, analysts forecast that Lennar Co. will post 14.28 EPS for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.08%. Lennar’s payout ratio is 13.60%.

Analyst Ratings Changes

LEN has been the topic of several analyst reports. Evercore ISI dropped their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Keefe, Bruyette & Woods raised their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Bank Of America (Bofa) raised their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Argus raised their price target on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Citigroup raised their price target on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Two research 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $181.11.

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.