Opinicus Capital Inc. Reduces Stock Position in Lennar Co. (NYSE:LEN)

by · The Cerbat Gem

Opinicus Capital Inc. decreased its holdings in Lennar Co. (NYSE:LEN – Free Report) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,582 shares of the construction company’s stock after selling 108 shares during the period. Opinicus Capital Inc.’s holdings in Lennar were worth $859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Versor Investments LP grew its position in Lennar by 51.1% in the 3rd quarter. Versor Investments LP now owns 4,200 shares of the construction company’s stock valued at $787,000 after acquiring an additional 1,421 shares during the last quarter. Jupiter Wealth Management LLC boosted its stake in shares of Lennar by 1.0% during the third quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock valued at $1,437,000 after purchasing an additional 75 shares during the period. United Capital Management of KS Inc. bought a new position in shares of Lennar in the third quarter worth about $4,768,000. Ashton Thomas Securities LLC bought a new stake in Lennar during the 3rd quarter valued at about $52,000. Finally, Crossmark Global Holdings Inc. increased its position in shares of Lennar by 0.3% during the third quarter. Crossmark Global Holdings Inc. now owns 51,545 shares of the construction company’s stock worth $9,664,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of LEN traded up $1.06 during mid-day trading on Monday, reaching $173.64. The company had a trading volume of 55,274 shares, compared to its average volume of 2,048,396. The stock has a 50 day moving average of $180.40 and a two-hundred day moving average of $168.45. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $47.10 billion, a P/E ratio of 11.43, a PEG ratio of 1.61 and a beta of 1.62. Lennar Co. has a 52-week low of $120.50 and a 52-week high of $193.80.

Lennar (NYSE:LEN – Get Free Report) last issued its quarterly earnings data 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 net margin of 11.51% and a return on equity of 15.47%. The business had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter last year, the company earned $3.91 EPS. The business’s revenue was up 7.9% on a year-over-year basis. On average, analysts expect that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

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

Insider Transactions at Lennar

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 transaction of $3,064,775.00. Following the transaction, the director now directly 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LEN shares. Wells Fargo & Company dropped their price objective on Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday. JMP Securities increased their price target on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Bank of America lifted their price objective on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Evercore ISI cut their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $144.00 price target on shares of Lennar in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Lennar has a consensus rating of “Hold” and an average price target of $180.56.

Read Our Latest Stock Analysis on LEN

Lennar Profile

(Free Report)

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.

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