Trustmark National Bank Trust Department Grows Position in Lennar Co. (NYSE:LEN)

Trustmark National Bank Trust Department grew its stake in shares of Lennar Co. (NYSE:LEN) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,793 shares of the construction company’s stock after buying an additional 306 shares during the period. Trustmark National Bank Trust Department’s holdings in Lennar were worth $2,023,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Oakworth Capital Inc. purchased a new position in shares of Lennar during the 3rd quarter valued at about $27,000. Wolff Wiese Magana LLC boosted its stake in shares of Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. bought a new position in shares of Lennar during the 3rd quarter valued at $30,000. New Covenant Trust Company N.A. bought a new stake in Lennar in the first quarter worth $32,000. Finally, Asset Dedication LLC boosted its position in Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after buying an additional 169 shares during the period. 81.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

LEN has been the subject of several analyst reports. Citigroup increased 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. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Bank Of America (Bofa) increased their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. boosted their price objective on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, Barclays increased their target price on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $180.56.

Lennar Stock Performance

Shares of Lennar stock opened at $168.23 on Thursday. The stock has a market cap of $45.63 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.58 and a beta of 1.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar Co. has a 1 year low of $125.17 and a 1 year high of $193.80. The firm’s 50-day moving average is $178.67 and its 200 day moving average is $169.15.

Lennar (NYSE:LEN) last posted 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 firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter in the prior year, the company posted $3.91 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts anticipate that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. Lennar’s dividend payout ratio (DPR) is presently 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 on Monday, October 28th. The shares were 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. The trade was a 42.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.