SVB Wealth LLC Sells 865 Shares of Lennar Co. (NYSE:LEN)

SVB Wealth LLC trimmed its position in Lennar Co. (NYSE:LEN) by 20.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,378 shares of the construction company’s stock after selling 865 shares during the quarter. SVB Wealth LLC’s holdings in Lennar were worth $503,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Lennar during the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new position in shares of Lennar in the 3rd quarter valued at approximately $28,000. BluePath Capital Management LLC acquired a new stake in Lennar in the 3rd quarter worth approximately $29,000. Coppell Advisory Solutions LLC purchased a new stake in Lennar during the 2nd quarter worth approximately $46,000. Finally, NBC Securities Inc. acquired a new position in Lennar during the 3rd quarter valued at approximately $56,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Down 1.5 %

LEN stock opened at $150.19 on Friday. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $172.59. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11. The firm has a market cap of $41.80 billion, a P/E ratio of 10.52, a PEG ratio of 1.42 and a beta of 1.53. The company’s 50-day simple moving average is $159.57 and its 200-day simple moving average is $142.54.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.39 billion. Lennar had a return on equity of 15.90% and a net margin of 11.59%. Lennar’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.12 earnings per share. As a group, equities analysts forecast that Lennar Co. will post 14.46 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Tuesday, April 23rd. Lennar’s dividend payout ratio is presently 14.02%.

Insider Buying and Selling at Lennar

In related news, Director Amy Banse purchased 1,575 shares of Lennar stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the transaction, the director now directly owns 11,859 shares in the company, valued at $1,861,863. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $161.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Citigroup increased their price objective on Lennar from $179.00 to $198.00 and gave the company a “buy” rating in a report on Friday, April 5th. Wedbush reaffirmed an “underperform” rating and set a $144.00 target price on shares of Lennar in a report on Tuesday, April 2nd. Barclays increased their price target on shares of Lennar from $173.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, JMP Securities restated a “market outperform” rating and set a $170.00 price objective on shares of Lennar in a research note on Friday, March 15th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Lennar presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

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.