Fidelis Capital Partners LLC Decreases Stock Position in Lennar Co. (NYSE:LEN)

Fidelis Capital Partners LLC lessened its position in Lennar Co. (NYSE:LEN) by 9.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,277 shares of the construction company’s stock after selling 235 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Lennar were worth $393,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LEN. Pacer Advisors Inc. lifted its position in 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 buying an additional 396,951 shares in the last quarter. D1 Capital Partners L.P. lifted its position in Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after buying an additional 1,962,447 shares in the last quarter. Marshall Wace LLP lifted its position in Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after buying an additional 348,553 shares in the last quarter. Nordea Investment Management AB lifted its position in Lennar by 3.6% during the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock worth $303,585,000 after buying an additional 60,713 shares in the last quarter. Finally, Eminence Capital LP lifted its holdings in Lennar by 14.6% during the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after buying an additional 83,316 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LEN shares. Keefe, Bruyette & Woods boosted their target price on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Royal Bank of Canada boosted their target price on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. The Goldman Sachs Group downgraded Lennar from a “buy” rating to a “neutral” rating and reduced their target price for the company from $180.00 to $174.00 in a report on Monday, July 22nd. JPMorgan Chase & Co. boosted their target price on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Evercore ISI decreased their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $181.11.

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’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 sale, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.36% of the company’s stock.

Lennar Stock Up 0.9 %

LEN opened at $171.60 on Thursday. The business’s fifty day moving average is $181.82 and its two-hundred day moving average is $167.43. 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 market cap of $46.55 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.62 and a beta of 1.61. Lennar Co. has a one year low of $104.68 and a one year high of $193.80.

Lennar (NYSE:LEN) last posted its 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 return on equity of 15.47% and a net margin of 11.51%. The company 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 business earned $3.91 earnings per share. Lennar’s quarterly revenue was up 7.9% compared to the same quarter last year. Analysts anticipate that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. Lennar’s dividend payout ratio is currently 13.60%.

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.