Sheaff Brock Investment Advisors LLC Sells 292 Shares of Lennar Co. (NYSE:LEN)

Sheaff Brock Investment Advisors LLC cut its position in shares of Lennar Co. (NYSE:LEN) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,441 shares of the construction company’s stock after selling 292 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Lennar were worth $1,583,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oakworth Capital Inc. bought a new stake in Lennar during the 3rd quarter valued at $27,000. Wolff Wiese Magana LLC raised its position 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 worth $29,000 after acquiring an additional 140 shares in the last quarter. GHP Investment Advisors Inc. bought a new position in shares of Lennar in the 3rd quarter worth $30,000. Asset Dedication LLC raised its position in shares of Lennar by 4,225.0% in the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after acquiring an additional 169 shares in the last quarter. Finally, DT Investment Partners LLC raised its position in shares of Lennar by 523.3% in the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after acquiring an additional 157 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LEN. Wells Fargo & Company reduced their price target on Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Evercore ISI dropped their target price on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research note on Monday, September 23rd. Royal Bank of Canada boosted their target price on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Finally, Bank of America boosted their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $180.56.

Insider Buying and Selling

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction dated 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 owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.36% of the stock is currently owned by insiders.

Lennar Stock Down 0.1 %

Shares of LEN opened at $169.69 on Friday. Lennar Co. has a 52 week low of $125.17 and a 52 week high of $193.80. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $46.03 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.56 and a beta of 1.62. The stock’s 50-day moving average price is $179.72 and its 200-day moving average price is $168.65.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter in the prior year, the business earned $3.91 earnings per share. The company’s revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts predict that Lennar Co. will post 14.18 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.18%. Lennar’s payout ratio is 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.