1832 Asset Management L.P. Lowers Holdings in Lennar Co. (NYSE:LEN)

1832 Asset Management L.P. cut its stake in shares of Lennar Co. (NYSE:LENFree Report) by 21.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,086 shares of the construction company’s stock after selling 5,555 shares during the quarter. 1832 Asset Management L.P.’s holdings in Lennar were worth $2,994,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Benjamin Edwards Inc. raised its holdings in Lennar by 7.2% in the fourth quarter. Benjamin Edwards Inc. now owns 1,027 shares of the construction company’s stock worth $153,000 after buying an additional 69 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Lennar by 1.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock valued at $663,000 after purchasing an additional 70 shares during the last quarter. Savant Capital LLC increased its holdings in shares of Lennar by 0.9% in the 4th quarter. Savant Capital LLC now owns 8,361 shares of the construction company’s stock worth $1,246,000 after purchasing an additional 78 shares in the last quarter. RFG Advisory LLC raised its stake in shares of Lennar by 2.1% in the fourth quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock worth $573,000 after purchasing an additional 79 shares during the last quarter. Finally, FFT Wealth Management LLC boosted its position in shares of Lennar by 3.3% during the fourth quarter. FFT Wealth Management LLC now owns 2,646 shares of the construction company’s stock valued at $394,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on LEN. Deutsche Bank Aktiengesellschaft upped their target price on shares of Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a research note on Thursday, March 14th. Citigroup raised their target price on shares of Lennar from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Royal Bank of Canada decreased their target price on shares of Lennar from $137.00 to $136.00 and set an “underweight” rating for the company in a research note on Thursday, March 14th. Oppenheimer restated a “market perform” rating on shares of Lennar in a research note on Friday, March 15th. Finally, Evercore ISI upped their price objective on Lennar from $224.00 to $238.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.88.

Check Out Our Latest Stock Analysis on LEN

Lennar Price Performance

LEN stock opened at $154.02 on Friday. The company has a market capitalization of $42.87 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.44 and a beta of 1.56. The company’s fifty day moving average price is $158.64 and its 200-day moving average price is $153.38. Lennar Co. has a one year low of $102.90 and a one year high of $172.59. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.27 and a current ratio of 5.47.

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

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lennar’s dividend payout ratio is currently 14.02%.

Insider Activity at Lennar

In other Lennar news, Director Amy Banse purchased 1,575 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average cost of $157.00 per share, with a total value of $247,275.00. Following the purchase, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Amy Banse purchased 1,575 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was purchased at an average price of $157.00 per share, with a total value of $247,275.00. Following the completion of the purchase, the director now owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of Lennar stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $162.70, for a total value of $1,627,000.00. Following the completion of the sale, the executive vice president now owns 128,629 shares of the company’s stock, valued at $20,927,938.30. The disclosure for this sale can be found here. 9.36% of the stock is currently owned by insiders.

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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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