Macquarie Group Ltd. decreased its holdings in Lennar Co. (NYSE:LEN – Free Report) by 11.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,916 shares of the construction company’s stock after selling 1,962 shares during the period. Macquarie Group Ltd.’s holdings in Lennar were worth $1,568,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Close Asset Management Ltd purchased a new stake in Lennar in the first quarter worth $37,000. MV Capital Management Inc. increased its stake in shares of Lennar by 47.0% during the first quarter. MV Capital Management Inc. now owns 397 shares of the construction company’s stock valued at $42,000 after buying an additional 127 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Lennar by 22.6% during the first quarter. Brown Brothers Harriman & Co. now owns 717 shares of the construction company’s stock valued at $75,000 after buying an additional 132 shares during the period. Money Concepts Capital Corp increased its stake in shares of Lennar by 494.4% during the fourth quarter. Money Concepts Capital Corp now owns 737 shares of the construction company’s stock valued at $67,000 after buying an additional 613 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of Lennar by 11,037.5% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 891 shares of the construction company’s stock valued at $94,000 after buying an additional 883 shares during the period. Hedge funds and other institutional investors own 79.87% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. Royal Bank of Canada raised their price target on Lennar from $113.00 to $114.00 and gave the company an “underperform” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft started coverage on Lennar in a research note on Wednesday, May 31st. They set a “sell” rating and a $105.00 price target on the stock. Barclays raised their price objective on Lennar from $120.00 to $135.00 in a research report on Wednesday, May 24th. Keefe, Bruyette & Woods raised their price objective on Lennar from $130.00 to $145.00 in a research report on Friday, June 16th. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of Lennar in a research report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Lennar has an average rating of “Hold” and a consensus price target of $131.88.
Insider Transactions at Lennar
In related news, CFO Diane J. Bessette sold 10,790 shares of Lennar stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $121.46, for a total transaction of $1,310,553.40. Following the completion of the transaction, the chief financial officer now directly owns 270,556 shares in the company, valued at $32,861,731.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Diane J. Bessette sold 10,790 shares of Lennar stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $121.46, for a total transaction of $1,310,553.40. Following the completion of the transaction, the chief financial officer now directly owns 270,556 shares in the company, valued at $32,861,731.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy Banse purchased 790 shares of Lennar stock in a transaction that occurred on Friday, July 21st. The shares were bought at an average price of $126.42 per share, with a total value of $99,871.80. Following the completion of the transaction, the director now owns 7,293 shares of the company’s stock, valued at approximately $921,981.06. The disclosure for this purchase can be found here. Insiders bought a total of 2,634 shares of company stock worth $321,855 over the last three months. 9.53% of the stock is currently owned by insiders.
Lennar Trading Up 0.2 %
Shares of NYSE:LEN opened at $117.29 on Wednesday. Lennar Co. has a 52-week low of $69.90 and a 52-week high of $133.24. The stock has a market cap of $33.71 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 1.52 and a beta of 1.48. 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 business has a 50-day moving average price of $122.20 and a 200-day moving average price of $114.92.
Lennar (NYSE:LEN – Get Free Report) last announced its quarterly earnings data on Friday, September 15th. The construction company reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.39. Lennar had a return on equity of 16.41% and a net margin of 11.66%. The firm had revenue of $8.73 billion during the quarter, compared to analysts’ expectations of $8.49 billion. During the same period last year, the business posted $5.18 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts predict that Lennar Co. will post 12.56 EPS for the current year.
Lennar Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, July 6th. Lennar’s payout ratio is 11.12%.
Lennar Profile
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.
Read More
- Five stocks we like better than Lennar
- What Are Trending Stocks? Trending Stocks Explained
- Hold-It-Forever AutoZone Pulls into Buy Zone
- Investing in Vaccines 101: How to Invest in Vaccine Stocks
- Virtual Riches: 3 Stocks Leading the VR Revolution
- Stock Ratings and Recommendations: Understanding Analyst Ratings
- 5 eCommerce Companies that need to be on Your Watch List
Receive News & Ratings for Lennar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar and related companies with MarketBeat.com's FREE daily email newsletter.
