Greenleaf Trust Has $414,000 Stock Position in Lennar Co. (NYSE:LEN)

Posted by Defense World Staff on Apr 8th, 2023

Greenleaf Trust increased its position in shares of Lennar Co. (NYSE:LEN – Get Rating) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,574 shares of the construction company’s stock after purchasing an additional 201 shares during the quarter. Greenleaf Trust’s holdings in Lennar were worth $414,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Empirical Finance LLC increased its position in shares of Lennar by 4.8% during the 4th quarter. Empirical Finance LLC now owns 12,825 shares of the construction company’s stock worth $1,161,000 after purchasing an additional 584 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Lennar by 1.2% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the construction company’s stock worth $1,493,000 after purchasing an additional 200 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Lennar by 10.7% during the 4th quarter. Park Avenue Securities LLC now owns 12,912 shares of the construction company’s stock worth $1,169,000 after purchasing an additional 1,243 shares in the last quarter. Lyell Wealth Management LP increased its position in shares of Lennar by 10.1% during the 4th quarter. Lyell Wealth Management LP now owns 64,573 shares of the construction company’s stock worth $5,844,000 after purchasing an additional 5,910 shares in the last quarter. Finally, Unison Advisors LLC increased its position in Lennar by 0.5% in the 4th quarter. Unison Advisors LLC now owns 36,028 shares of the construction company’s stock valued at $3,261,000 after acquiring an additional 179 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Lennar Stock Down 1.9 %

Lennar stock opened at $102.06 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.82 and a quick ratio of 1.38. The firm has a market capitalization of $29.57 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 1.78 and a beta of 1.44. The company’s 50 day simple moving average is $101.02 and its 200 day simple moving average is $91.10. Lennar Co. has a fifty-two week low of $62.54 and a fifty-two week high of $109.28.

Lennar (NYSE:LEN – Get Rating) last announced its earnings results on Wednesday, March 15th. The construction company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.56 by $0.56. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $5.99 billion. Lennar had a net margin of 13.86% and a return on equity of 21.18%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company posted $2.70 EPS. As a group, sell-side analysts anticipate that Lennar Co. will post 9.72 EPS for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 10th. Shareholders of record on Friday, January 27th were issued a dividend of $0.375 per share. The ex-dividend date was Thursday, January 26th. This represents a $1.50 annualized dividend and a yield of 1.47%. Lennar’s dividend payout ratio (DPR) is currently 9.30%.

Insiders Place Their Bets

In other Lennar news, CFO Diane J. Bessette sold 9,289 shares of the firm’s stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $103.16, for a total transaction of $958,253.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 9.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LEN. JMP Securities restated a “market outperform” rating and issued a $115.00 price objective on shares of Lennar in a research report on Thursday, March 16th. Keefe, Bruyette & Woods raised their price objective on shares of Lennar from $126.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, March 21st. UBS Group raised their price objective on shares of Lennar from $117.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, March 16th. Oppenheimer began coverage on shares of Lennar in a research note on Wednesday, March 1st. They issued a “market perform” rating on the stock. Finally, Citigroup raised their target price on shares of Lennar from $113.00 to $123.00 and gave the company a “buy” rating in a research note on Tuesday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $104.60.

Lennar Profile

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Lennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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