Lennar Corporation $LEN Stake Lifted by Glenview Trust Co

Glenview Trust Co lifted its stake in Lennar Corporation (NYSE:LEN) by 35.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 26,957 shares of the construction company’s stock after acquiring an additional 7,088 shares during the period. Glenview Trust Co’s holdings in Lennar were worth $2,199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC lifted its position in Lennar by 2.5% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,067 shares of the construction company’s stock valued at $413,000 after acquiring an additional 124 shares during the last quarter. KCM Investment Advisors LLC grew its holdings in shares of Lennar by 1.3% during the first quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company’s stock worth $858,000 after purchasing an additional 125 shares during the last quarter. Wisconsin Wealth Advisors LLC grew its holdings in shares of Lennar by 2.2% during the third quarter. Wisconsin Wealth Advisors LLC now owns 6,495 shares of the construction company’s stock worth $530,000 after purchasing an additional 140 shares during the last quarter. Unison Advisors LLC increased its position in shares of Lennar by 0.4% during the first quarter. Unison Advisors LLC now owns 37,815 shares of the construction company’s stock worth $3,284,000 after purchasing an additional 154 shares in the last quarter. Finally, Wedmont Private Capital increased its position in shares of Lennar by 4.8% during the second quarter. Wedmont Private Capital now owns 3,460 shares of the construction company’s stock worth $292,000 after purchasing an additional 157 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc acquired 1,708,095 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was bought at an average cost of $79.44 per share, with a total value of $135,691,066.80. Following the transaction, the insider owned 28,438,045 shares of the company’s stock, valued at $2,259,118,294.80. The trade was a 6.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders purchased 7,502,276 shares of company stock worth $595,303,287. 10.05% of the stock is currently owned by company insiders.

Lennar Price Performance

Shares of NYSE:LEN opened at $86.95 on Friday. The company has a 50-day simple moving average of $81.09 and a 200-day simple moving average of $91.59. Lennar Corporation has a one year low of $71.78 and a one year high of $133.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 4.94. The stock has a market capitalization of $20.69 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 3.26 and a beta of 1.36.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, September 16th. The construction company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.06). Lennar had a return on equity of 6.15% and a net margin of 4.09%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $8.32 billion. During the same quarter last year, the company posted $2.00 EPS. Lennar’s quarterly revenue was down 8.7% on a year-over-year basis. On average, analysts predict that Lennar Corporation will post 4.88 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 22nd. Shareholders of record on Wednesday, October 7th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $2.00 annualized dividend and a yield of 2.3%. Lennar’s dividend payout ratio is currently 37.81%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Benchmark raised Lennar to a “hold” rating in a report on Thursday, September 3rd. Royal Bank Of Canada dropped their price target on Lennar from $85.00 to $69.00 and set an “underperform” rating on the stock in a research note on Friday, September 18th. Keefe, Bruyette & Woods cut their price target on Lennar from $85.00 to $75.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 22nd. Wells Fargo & Company reduced their price objective on Lennar from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 7th. Finally, Seaport Research Partners decreased their price objective on Lennar from $74.00 to $70.00 and set a “sell” rating for the company in a report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and eleven have assigned a Sell rating to the company. According to data from MarketBeat, Lennar presently has a consensus rating of “Strong Sell” and a consensus target price of $79.00.

About Lennar

Lennar Corporation (NYSE:LEN) is a homebuilding and real estate company that develops, constructs, and sells primarily single-family homes. The company offers homes across a range of price points and designs, including residences for first-time, move-up, luxury, and active-adult buyers. Its operations also include land acquisition and development, allowing Lennar to prepare communities and lots for residential construction.

In addition to homebuilding, Lennar develops multifamily rental properties and provides related financial services.