Cornerstone Wealth Group LLC Has $473,000 Position in Lennar Co. (NYSE:LEN)

Cornerstone Wealth Group LLC trimmed its position in shares of Lennar Co. (NYSE:LEN) by 19.1% during the third quarter, HoldingsChannel.com reports. The firm owned 2,521 shares of the construction company’s stock after selling 594 shares during the period. Cornerstone Wealth Group LLC’s holdings in Lennar were worth $473,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Oakworth Capital Inc. acquired a new stake in Lennar during the 3rd quarter worth approximately $27,000. Wolff Wiese Magana LLC lifted its holdings in shares of Lennar by 933.3% during 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 period. J.Safra Asset Management Corp bought a new stake in shares of Lennar in the first quarter worth $30,000. GHP Investment Advisors Inc. acquired a new stake in Lennar in the third quarter valued at $30,000. Finally, New Covenant Trust Company N.A. acquired a new position in Lennar during the 1st quarter worth about $32,000. 81.10% of the stock is currently owned by institutional investors.

Lennar Stock Performance

NYSE LEN opened at $170.30 on Friday. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $181.65 and a 200 day simple moving average of $167.45. Lennar Co. has a 12-month low of $104.68 and a 12-month high of $193.80. The company has a market cap of $46.19 billion, a P/E ratio of 11.58, a PEG ratio of 1.62 and a beta of 1.61.

Lennar (NYSE:LEN) last posted its earnings results 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 net margin of 11.51% and a return on equity of 15.47%. The company had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same period in the previous year, the firm posted $3.91 earnings per share. The firm’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 Announces Dividend

The business also recently announced 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 of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.17%. Lennar’s dividend payout ratio is presently 13.60%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LEN. JPMorgan Chase & Co. increased their price target on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Wells Fargo & Company downgraded shares of Lennar from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $205.00 to $190.00 in a research report on Monday, October 7th. Wedbush reiterated a “neutral” rating and set a $144.00 price objective on shares of Lennar in a research report on Friday, September 20th. Bank Of America (Bofa) boosted their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Keefe, Bruyette & Woods increased their price target on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lennar currently has an average rating of “Hold” and a consensus price target of $181.11.

Insiders Place Their Bets

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $4,148,654.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.36% of the stock is currently owned by 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.