Lennar Co. (NYSE:LEN) Shares Sold by First Hawaiian Bank

First Hawaiian Bank cut its stake in shares of Lennar Co. (NYSE:LEN) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,678 shares of the construction company’s stock after selling 367 shares during the quarter. First Hawaiian Bank’s holdings in Lennar were worth $502,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. D1 Capital Partners L.P. increased its stake in Lennar by 428.9% during the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after buying an additional 1,962,447 shares during the period. Holocene Advisors LP acquired a new position in shares of Lennar during the third quarter valued at approximately $115,229,000. Nordea Investment Management AB lifted its position in Lennar by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after purchasing an additional 397,492 shares during the period. Pacer Advisors Inc. boosted its stake in Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after purchasing an additional 396,951 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Lennar by 258.3% during the 3rd quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock valued at $92,774,000 after purchasing an additional 356,731 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LEN shares. JMP Securities raised their price objective on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 25th. Bank Of America (Bofa) lifted their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. UBS Group cut their price objective on Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company cut their target price on Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods dropped their price target on Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $171.50.

Insider Activity at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was 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 of the company’s stock, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.36% of the stock is owned by company insiders.

Lennar Trading Down 3.0 %

NYSE:LEN opened at $129.58 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The company has a market capitalization of $35.15 billion, a P/E ratio of 8.58, a P/E/G ratio of 1.28 and a beta of 1.66. Lennar Co. has a 52 week low of $129.36 and a 52 week high of $193.80. The stock’s 50 day moving average price is $156.42 and its 200 day moving average price is $167.67.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the prior year, the company posted $4.82 earnings per share. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, research analysts forecast that Lennar Co. will post 14.11 EPS for the current fiscal year.

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.