BBR Partners LLC Sells 79 Shares of Lennar Co. (NYSE:LEN)

BBR Partners LLC reduced its holdings in shares of Lennar Co. (NYSE:LEN) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,348 shares of the construction company’s stock after selling 79 shares during the period. BBR Partners LLC’s holdings in Lennar were worth $440,000 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 business. Oakworth Capital Inc. bought a new position in shares of Lennar in the third quarter worth approximately $27,000. Wolff Wiese Magana LLC grew its holdings in shares of Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. GHP Investment Advisors Inc. bought a new position in shares of Lennar in the third quarter worth approximately $30,000. New Covenant Trust Company N.A. bought a new position in shares of Lennar in the first quarter worth approximately $32,000. Finally, Asset Dedication LLC grew its holdings in shares of Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after purchasing an additional 169 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LEN has been the topic of several recent analyst reports. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Evercore ISI dropped their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Barclays raised their price target on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. JMP Securities raised their price target on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Finally, Bank Of America (Bofa) raised their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $184.29.

Lennar Price Performance

LEN opened at $174.16 on Thursday. The stock has a 50-day moving average price of $177.30 and a 200-day moving average price of $169.56. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The firm has a market cap of $47.24 billion, a PE ratio of 11.53, a P/E/G ratio of 1.67 and a beta of 1.62. Lennar Co. has a 1 year low of $125.17 and a 1 year high of $193.80.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same period last year, the company earned $3.91 EPS. Lennar’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts predict that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm 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. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.15%. Lennar’s payout ratio is 13.25%.

Insider Buying and Selling

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction dated 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 $4,148,654.57. The trade was a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.36% of the stock is owned by corporate insiders.

Lennar 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.