Janney Montgomery Scott LLC Has $11.72 Million Stock Position in Lennar Co. (NYSE:LEN)

Janney Montgomery Scott LLC cut its position in shares of Lennar Co. (NYSE:LEN) by 10.5% during the third quarter, HoldingsChannel.com reports. The firm owned 62,509 shares of the construction company’s stock after selling 7,345 shares during the period. Janney Montgomery Scott LLC’s holdings in Lennar were worth $11,719,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Oakworth Capital Inc. bought a new stake in Lennar in the 3rd quarter valued at $27,000. Wolff Wiese Magana LLC increased its stake in Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after acquiring an additional 140 shares during the period. GHP Investment Advisors Inc. acquired a new position in Lennar in the third quarter worth about $30,000. J.Safra Asset Management Corp bought a new position in Lennar during the first quarter worth about $30,000. Finally, Asset Dedication LLC boosted its holdings 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 purchasing an additional 169 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the sale, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.36% of the stock is owned by insiders.

Lennar Trading Down 4.8 %

LEN opened at $168.70 on Thursday. Lennar Co. has a fifty-two week low of $118.58 and a fifty-two week high of $193.80. The company has a market cap of $45.76 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 1.62 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. The firm has a 50 day simple moving average of $180.77 and a 200 day simple moving average of $168.09.

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

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.19%. Lennar’s dividend payout ratio is 13.25%.

Wall Street Analyst Weigh In

Several research firms recently commented on LEN. StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Barclays lifted their price objective on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods upped their target price on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. JMP Securities lifted their price target on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Wednesday, September 25th. Finally, Citigroup upped their price objective on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Lennar has an average rating of “Hold” and an average target price of $181.11.

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.