Global Wealth Management Investment Advisory Inc. Sells 4,388 Shares of Lennar Co. (NYSE:LEN)

Global Wealth Management Investment Advisory Inc. lessened its stake in Lennar Co. (NYSE:LEN) by 33.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,685 shares of the construction company’s stock after selling 4,388 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Lennar were worth $1,628,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Partners boosted its holdings in shares of 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 in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Lennar by 23,048.0% in the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock valued at $28,209,000 after purchasing an additional 149,812 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Lennar by 544.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,248 shares of the construction company’s stock valued at $5,890,000 after purchasing an additional 28,935 shares during the last quarter. Fulton Bank N.A. bought a new position in Lennar in the 2nd quarter valued at approximately $477,000. Finally, Rockport Wealth LLC acquired a new stake in Lennar in the first quarter valued at approximately $512,000. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on LEN. Bank Of America (Bofa) increased their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods increased their price objective on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Bank of America increased their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Citigroup upped their target price on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $181.11.

Lennar Stock Up 0.8 %

Lennar stock traded up $1.32 during mid-day trading on Tuesday, reaching $173.95. The stock had a trading volume of 35,883 shares, compared to its average volume of 2,045,812. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar Co. has a fifty-two week low of $116.62 and a fifty-two week high of $193.80. The stock’s 50-day simple moving average is $181.12 and its 200-day simple moving average is $167.90. The firm has a market capitalization of $47.18 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.59 and a beta of 1.62.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating 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 business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the previous year, the business posted $3.91 EPS. Lennar’s quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. Lennar’s dividend payout ratio (DPR) is currently 13.25%.

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the 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 completion of the sale, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.36% of the company’s stock.

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.