Atlantic Union Bankshares Corp Acquires 2,542 Shares of Lennar Co. (NYSE:LEN)

Atlantic Union Bankshares Corp increased its holdings in shares of Lennar Co. (NYSE:LEN) by 8.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,969 shares of the construction company’s stock after purchasing an additional 2,542 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Lennar were worth $5,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JMP Securities upped their price target on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Wells Fargo & Company cut their target price on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Finally, Keefe, Bruyette & Woods lifted their target price on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $184.29.

Insider Activity at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction on Monday, October 28th. The stock was 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 directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.36% of the stock is owned by company insiders.

Lennar Stock Up 0.4 %

Shares of LEN opened at $174.10 on Friday. 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 Co. has a 52-week low of $125.17 and a 52-week high of $193.80. The company has a market cap of $47.22 billion, a PE ratio of 11.53, a P/E/G ratio of 1.63 and a beta of 1.62. The business has a fifty day moving average of $176.93 and a 200 day moving average of $169.59.

Lennar (NYSE:LEN) last released its quarterly 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 net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same period in the previous year, the company earned $3.91 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts expect that Lennar Co. will post 14.18 EPS for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders 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 annualized dividend and a dividend yield of 1.15%. Lennar’s payout ratio is 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.