Hancock Whitney Corp Sells 26,831 Shares of Lennar Co. (NYSE:LEN)

by · The Markets Daily

Hancock Whitney Corp reduced its holdings in Lennar Co. (NYSE:LEN – Free Report) by 36.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,030 shares of the construction company’s stock after selling 26,831 shares during the quarter. Hancock Whitney Corp’s holdings in Lennar were worth $8,630,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oakworth Capital Inc. purchased a new position in Lennar during the 3rd quarter valued at $27,000. Wolff Wiese Magana LLC increased its position in shares of Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after buying an additional 140 shares during the period. GHP Investment Advisors Inc. bought a new position in Lennar in the third quarter worth about $30,000. Asset Dedication LLC lifted its holdings in Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after buying an additional 169 shares during the period. Finally, DT Investment Partners LLC grew its holdings in shares of Lennar by 523.3% during the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after acquiring an additional 157 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

LEN stock opened at $171.50 on Monday. The company has a market cap of $46.52 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 1.58 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. Lennar Co. has a 1 year low of $125.17 and a 1 year high of $193.80. The stock’s fifty day moving average price is $178.07 and its 200-day moving average price is $169.33.

Lennar (NYSE:LEN – Get Free Report) last released its quarterly 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 business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same period in the previous year, the company posted $3.91 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts forecast that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders 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 annualized dividend and a yield of 1.17%. Lennar’s payout ratio is presently 13.25%.

Analyst Ratings Changes

LEN has been the subject of several recent research reports. Evercore ISI lowered their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Wells Fargo & Company cut their price objective on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Bank of America lifted their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Wedbush reaffirmed a “neutral” rating and set a $144.00 price objective on shares of Lennar in a research report on Friday, September 20th. Finally, StockNews.com cut Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $180.56.

Check Out Our Latest Report on LEN

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.36% of the company’s stock.

Lennar Company 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.

See Also

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