Caisse DE Depot ET Placement DU Quebec Sells 30,120 Shares of Lennar Co. (NYSE:LEN)

Caisse DE Depot ET Placement DU Quebec lessened its position in shares of Lennar Co. (NYSE:LEN) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,356,945 shares of the construction company’s stock after selling 30,120 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.50% of Lennar worth $254,400,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LEN. 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 valued at $4,089,000 after purchasing an additional 4,207 shares during the period. 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 valued at $28,209,000 after acquiring an additional 149,812 shares during the period. Fulton Bank N.A. bought a new position in Lennar during the second quarter worth about $477,000. Smead Capital Management Inc. raised its stake in Lennar by 3.5% in the 3rd 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 in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in Lennar by 8.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 101,463 shares of the construction company’s stock valued at $19,022,000 after purchasing an additional 8,092 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Buying and Selling at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LEN shares. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. raised their price objective on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Wells Fargo & Company reduced their target price on Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Bank of America raised their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Finally, StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $184.29.

Lennar Stock Up 0.2 %

Shares of NYSE:LEN opened at $174.48 on Friday. Lennar Co. has a 52-week low of $125.17 and a 52-week high of $193.80. The company has a market capitalization of $47.33 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 1.63 and a beta of 1.62. 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 fifty day moving average of $176.77 and a 200-day moving average of $169.68.

Lennar (NYSE:LEN) last issued its 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. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter in the prior 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. On average, equities analysts predict that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, October 9th. 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.