Simplicity Solutions LLC Acquires New Holdings in Lennar Co. (NYSE:LEN)

Posted by Defense World Staff on Apr 25th, 2023

Simplicity Solutions LLC acquired a new stake in Lennar Co. (NYSE:LEN – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,772 shares of the construction company’s stock, valued at approximately $251,000.

A number of other institutional investors have also made changes to their positions in the stock. Newbridge Financial Services Group Inc. increased its position in Lennar by 96.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 508 shares of the construction company’s stock worth $46,000 after buying an additional 250 shares during the period. Annapolis Financial Services LLC increased its position in Lennar by 44.5% in the 3rd quarter. Annapolis Financial Services LLC now owns 552 shares of the construction company’s stock worth $41,000 after buying an additional 170 shares during the period. Itau Unibanco Holding S.A. bought a new position in Lennar in the 3rd quarter worth approximately $45,000. Picton Mahoney Asset Management bought a new position in Lennar in the 3rd quarter worth approximately $60,000. Finally, CVA Family Office LLC increased its position in Lennar by 82.2% in the 3rd quarter. CVA Family Office LLC now owns 820 shares of the construction company’s stock worth $61,000 after buying an additional 370 shares during the period. 82.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Oppenheimer assumed coverage on Lennar in a research report on Wednesday, March 1st. They issued a “market perform” rating on the stock. Royal Bank of Canada boosted their price objective on Lennar from $76.00 to $85.00 and gave the company an “underperform” rating in a research report on Friday, March 17th. StockNews.com upgraded Lennar from a “hold” rating to a “buy” rating in a research report on Wednesday, April 12th. Credit Suisse Group boosted their price objective on Lennar from $88.00 to $96.00 and gave the company a “neutral” rating in a research report on Thursday, March 16th. Finally, Bank of America upgraded Lennar from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $92.00 to $102.00 in a research report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.21.

Insider Activity at Lennar

In related news, CFO Diane J. Bessette sold 9,289 shares of the firm’s stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of $103.16, for a total value of $958,253.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.53% of the stock is owned by company insiders.

Lennar Price Performance

Lennar stock opened at $112.13 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 7.82. The firm has a market cap of $32.45 billion, a P/E ratio of 6.95, a P/E/G ratio of 1.91 and a beta of 1.44. The business’s fifty day moving average is $101.84 and its two-hundred day moving average is $93.43. Lennar Co. has a 52 week low of $62.54 and a 52 week high of $113.90.

Lennar (NYSE:LEN – Get Rating) last posted its quarterly earnings data on Wednesday, March 15th. The construction company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.56. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $5.99 billion. Lennar had a return on equity of 21.18% and a net margin of 13.86%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.70 earnings per share. Equities research analysts forecast that Lennar Co. will post 9.72 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.34%. The ex-dividend date is Tuesday, April 25th. Lennar’s dividend payout ratio is 9.30%.

About Lennar

(Get Rating)

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.