Kingfisher Capital LLC Lowers Stock Holdings in Lennar Co. (NYSE:LEN)

Kingfisher Capital LLC lessened its holdings in shares of Lennar Co. (NYSE:LEN) by 6.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,215 shares of the construction company’s stock after selling 921 shares during the quarter. Kingfisher Capital LLC’s holdings in Lennar were worth $2,665,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Boston Partners boosted its stake in Lennar by 21.5% in the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after buying an additional 4,207 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Lennar by 23,048.0% in the third quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock worth $28,209,000 after acquiring an additional 149,812 shares during the last quarter. Fulton Bank N.A. purchased a new stake in Lennar in the second quarter valued at approximately $477,000. Smead Capital Management Inc. raised its stake in Lennar by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock worth $499,991,000 after purchasing an additional 89,896 shares during the period. Finally, Tidal Investments LLC boosted its holdings in shares of Lennar by 91.1% in the 1st quarter. Tidal Investments LLC now owns 14,318 shares of the construction company’s stock valued at $2,456,000 after purchasing an additional 6,824 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Shares of NYSE LEN opened at $174.10 on Friday. The business has a 50 day moving average price of $176.93 and a two-hundred day moving average price of $169.59. Lennar Co. has a fifty-two week low of $125.17 and a fifty-two week high of $193.80. The firm has a market cap of $47.22 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.63 and a beta of 1.62. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.91 earnings per share. Sell-side analysts expect 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. Investors of record on Wednesday, October 9th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.25%.

Insider Buying and Selling at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the sale, the director now owns 23,689 shares in the company, valued at $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LEN has been the topic of several research reports. JPMorgan Chase & Co. increased their target price on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. JMP Securities lifted their price objective on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. Barclays increased their target price on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods lifted 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. Finally, Wedbush reissued a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $184.29.

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.