Kwmg LLC Sells 829 Shares of Lennar Co. (NYSE:LEN)

Kwmg LLC lessened its position in shares of Lennar Co. (NYSE:LEN) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,660 shares of the construction company’s stock after selling 829 shares during the period. Kwmg LLC’s holdings in Lennar were worth $6,498,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LEN. Chemistry Wealth Management LLC bought a new position in shares of Lennar during the third quarter worth about $370,000. Czech National Bank grew its stake in shares of Lennar by 5.5% during the 3rd quarter. Czech National Bank now owns 49,237 shares of the construction company’s stock worth $9,231,000 after acquiring an additional 2,575 shares in the last quarter. Abacus Planning Group Inc. raised its holdings in shares of Lennar by 4.9% in the third quarter. Abacus Planning Group Inc. now owns 13,263 shares of the construction company’s stock valued at $2,487,000 after purchasing an additional 624 shares during the last quarter. IMPACTfolio LLC bought a new stake in shares of Lennar in the third quarter worth $209,000. Finally, Centaurus Financial Inc. boosted its holdings in Lennar by 5.5% during the second quarter. Centaurus Financial Inc. now owns 2,866 shares of the construction company’s stock worth $430,000 after purchasing an additional 149 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Price Performance

Shares of LEN stock traded down $0.28 during trading hours on Monday, reaching $181.97. The company’s stock had a trading volume of 1,958,318 shares, compared to its average volume of 2,077,112. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $193.80. The company has a market capitalization of $49.97 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.71 and a beta of 1.61. The firm’s 50 day simple moving average is $179.65 and its 200-day simple moving average is $165.70.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. 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 previous year, the business 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 forecast that Lennar Co. will post 14.13 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be given a $0.50 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.10%. Lennar’s dividend payout ratio is currently 13.60%.

Analyst Upgrades and Downgrades

LEN has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Wedbush reiterated a “neutral” rating and set a $144.00 target price on shares of Lennar in a report on Friday, September 20th. JMP Securities raised their price target on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. Citigroup increased their price objective 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 investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $181.11.

About Lennar

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.