Fisher Asset Management LLC Sells 18,786 Shares of Lennar Co. (NYSE:LEN)

Fisher Asset Management LLC decreased its holdings in Lennar Co. (NYSE:LEN) by 15.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,120 shares of the construction company’s stock after selling 18,786 shares during the quarter. Fisher Asset Management LLC’s holdings in Lennar were worth $18,770,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Oakworth Capital Inc. bought a new stake in shares of Lennar in the 3rd quarter valued at about $27,000. Wolff Wiese Magana LLC boosted its holdings in Lennar by 933.3% in the third 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 during the last quarter. GHP Investment Advisors Inc. acquired a new stake in Lennar during the 3rd quarter valued at approximately $30,000. New Covenant Trust Company N.A. acquired a new position in shares of Lennar in the 1st quarter worth approximately $32,000. Finally, Asset Dedication LLC boosted its stake 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 valued at $32,000 after purchasing an additional 169 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Up 0.4 %

LEN stock opened at $174.16 on Thursday. The stock’s 50 day moving average is $177.30 and its 200-day moving average is $169.56. Lennar Co. has a twelve month low of $125.17 and a twelve month high of $193.80. The firm has a market capitalization of $47.24 billion, a PE ratio of 11.53, a P/E/G ratio of 1.67 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 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. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same period in the previous year, the firm earned $3.91 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts expect that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wedbush reaffirmed a “neutral” rating and set a $144.00 price target on shares of Lennar in a research report on Friday, September 20th. Wells Fargo & Company cut their target price on Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Bank of America boosted their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. raised their price objective on shares of Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Barclays boosted their target price on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. 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 company. According to data from MarketBeat.com, Lennar currently has an average rating of “Hold” and a consensus target price of $184.29.

Insider Transactions 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 stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the transaction, the director now owns 23,689 shares of the company’s stock, valued at approximately $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 accessible through this link. Company insiders own 9.36% of the company’s stock.

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.