DAVENPORT & Co LLC trimmed its position in shares of Lennar Co. (NYSE:LEN – Free Report) by 84.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,098 shares of the construction company’s stock after selling 16,414 shares during the period. DAVENPORT & Co LLC’s holdings in Lennar were worth $388,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of LEN. Close Asset Management Ltd bought a new stake in shares of Lennar during the 1st quarter valued at $37,000. MV Capital Management Inc. grew its stake in 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 acquiring an additional 127 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Lennar during the second quarter valued at $61,000. Money Concepts Capital Corp grew its stake in 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 acquiring an additional 613 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in 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 acquiring an additional 132 shares in the last quarter. 79.87% of the stock is currently owned by institutional investors.
Lennar Trading Up 0.5 %
Shares of LEN opened at $109.22 on Friday. Lennar Co. has a 1-year low of $69.90 and a 1-year high of $133.24. The company has a 50-day moving average of $117.80 and a 200 day moving average of $115.87. The firm has a market capitalization of $31.06 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 1.36 and a beta of 1.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.66 and a quick ratio of 1.25.
Lennar Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Thursday, October 12th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, October 11th. This represents a $1.50 annualized dividend and a dividend yield of 1.37%. Lennar’s dividend payout ratio is currently 11.12%.
Insider Activity
In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $126.48, for a total value of $1,264,800.00. Following the completion of the sale, the executive vice president now owns 141,386 shares in the company, valued at approximately $17,882,501.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Amy Banse acquired 790 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were purchased at an average price of $126.42 per share, with a total value of $99,871.80. Following the transaction, the director now directly owns 7,293 shares in the company, valued at $921,981.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of Lennar stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $126.48, for a total transaction of $1,264,800.00. Following the completion of the transaction, the executive vice president now directly owns 141,386 shares in the company, valued at approximately $17,882,501.28. The disclosure for this sale can be found here. In the last quarter, insiders acquired 2,469 shares of company stock worth $301,842. 9.53% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms recently weighed in on LEN. The Goldman Sachs Group raised their target price on shares of Lennar from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, August 30th. Raymond James raised shares of Lennar from a “market perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research note on Friday, July 14th. Seaport Res Ptn reissued a “buy” rating on shares of Lennar in a research note on Wednesday, June 14th. BTIG Research lifted their price objective on shares of Lennar from $148.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, September 18th. Finally, UBS Group lifted their price objective on shares of Lennar from $150.00 to $159.00 and gave the stock a “buy” rating in a research note on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.25.
View Our Latest Report on Lennar
About Lennar
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.
Featured Stories
- Five stocks we like better than Lennar
- Why is the Ex-Dividend Date Significant to Investors?
- How To Find Value Stocks Using This Simple Filtering Method
- Insider Trading – What You Need to Know
- MarketBeat Week in Review – 10/2 – 10/6
- How to Invest in Biotech Stocks
- Levi Strauss: A Bottom is in for Steady, Stable Dividend Payer
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.
