Chevy Chase Trust Holdings LLC Has $24.42 Million Stock Position in Lennar Co. (NYSE:LEN)

Chevy Chase Trust Holdings LLC lessened its stake in Lennar Co. (NYSE:LEN) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,249 shares of the construction company’s stock after selling 4,079 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Lennar were worth $24,419,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position in Lennar by 1.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock worth $1,106,798,000 after purchasing an additional 73,638 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Lennar by 15.1% during the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after acquiring an additional 396,951 shares during the last quarter. Smead Capital Management Inc. lifted its stake in shares of Lennar by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after acquiring an additional 89,896 shares during the period. D1 Capital Partners L.P. boosted its holdings in Lennar by 428.9% in the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after acquiring an additional 1,962,447 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Lennar by 20.9% in the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after purchasing an additional 348,553 shares during the period. 81.10% of the stock is owned by institutional investors.

Insider Transactions at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction on 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 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 legal filing with the SEC, which is available through this link. Company insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wedbush reaffirmed a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Wells Fargo & Company cut their price target on Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Evercore ISI decreased their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Finally, Citigroup raised their target price on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Lennar has an average rating of “Hold” and an average price target of $184.29.

Lennar Price Performance

Shares of NYSE LEN opened at $173.62 on Wednesday. The company has a fifty day moving average price of $176.31 and a 200 day moving average price of $169.84. Lennar Co. has a 1-year low of $130.29 and a 1-year high of $193.80. The firm has a market cap of $47.09 billion, a PE ratio of 11.50, a PEG ratio of 1.44 and a beta of 1.61. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last posted its quarterly earnings data 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 the consensus estimate of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $3.91 earnings per share. Research analysts predict that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.15%. Lennar’s payout ratio is currently 13.25%.

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.