Xponance Inc. Acquires 661 Shares of Lennar Co. (NYSE:LEN)

Posted by Defense World Staff on Jul 1st, 2023

Xponance Inc. raised its holdings in shares of Lennar Co. (NYSE:LEN – Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,580 shares of the construction company’s stock after purchasing an additional 661 shares during the period. Xponance Inc.’s holdings in Lennar were worth $3,319,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LEN. Clearbridge Investments LLC grew its stake in shares of Lennar by 0.4% in the 4th quarter. Clearbridge Investments LLC now owns 27,918 shares of the construction company’s stock worth $2,527,000 after buying an additional 113 shares during the last quarter. Lakewood Asset Management LLC grew its stake in shares of Lennar by 1.3% in the first quarter. Lakewood Asset Management LLC now owns 9,173 shares of the construction company’s stock worth $964,000 after acquiring an additional 116 shares during the last quarter. Industrial Alliance Investment Management Inc. raised its position in shares of Lennar by 2.2% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 6,730 shares of the construction company’s stock worth $502,000 after purchasing an additional 146 shares during the last quarter. HB Wealth Management LLC boosted its stake in Lennar by 6.6% in the 1st quarter. HB Wealth Management LLC now owns 2,460 shares of the construction company’s stock worth $259,000 after purchasing an additional 152 shares in the last quarter. Finally, Comerica Bank grew its position in Lennar by 0.4% during the 4th quarter. Comerica Bank now owns 34,693 shares of the construction company’s stock valued at $3,427,000 after purchasing an additional 153 shares during the last quarter. 82.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Diane J. Bessette sold 10,790 shares of Lennar stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $121.46, for a total transaction of $1,310,553.40. Following the transaction, the chief financial officer now owns 270,556 shares in the company, valued at approximately $32,861,731.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 9.53% of the company’s stock.

Lennar Stock Up 1.2 %

NYSE LEN opened at $125.31 on Friday. Lennar Co. has a 52 week low of $69.90 and a 52 week high of $127.08. The company has a quick ratio of 1.25, a current ratio of 7.09 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $36.26 billion, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 1.72 and a beta of 1.44. The stock’s 50-day moving average price is $114.63 and its 200-day moving average price is $104.59.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Friday, July 7th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, July 6th. Lennar’s dividend payout ratio is currently 10.24%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LEN shares. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Evercore ISI increased their target price on Lennar from $153.00 to $161.00 in a research note on Friday, June 16th. Citigroup upped their price target on Lennar from $113.00 to $123.00 and gave the company a “buy” rating in a report on Tuesday, March 21st. Deutsche Bank Aktiengesellschaft started coverage on Lennar in a report on Wednesday, May 31st. They issued a “sell” rating and a $105.00 price objective for the company. Finally, UBS Group raised their price target on shares of Lennar from $127.00 to $150.00 in a report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Lennar presently has an average rating of “Hold” and an average target price of $121.53.

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.