Sunbelt Securities Inc. Takes Position in Lennar Co. (NYSE:LEN)

Sunbelt Securities Inc. purchased a new position in shares of Lennar Co. (NYSE:LEN) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 256 shares of the construction company’s stock, valued at approximately $44,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LEN. Rise Advisors LLC lifted its stake in shares of Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after acquiring an additional 121 shares during the period. Criterion Capital Advisors LLC acquired a new stake in Lennar in the fourth quarter valued at about $36,000. Raleigh Capital Management Inc. acquired a new position in Lennar during the 3rd quarter worth approximately $28,000. Accent Capital Management LLC acquired a new stake in shares of Lennar in the 4th quarter valued at approximately $54,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Lennar in the fourth quarter valued at approximately $69,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Amy Banse bought 1,575 shares of Lennar stock in a transaction that occurred on Wednesday, April 10th. The shares were purchased at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the acquisition, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Lennar news, Director Amy Banse purchased 1,575 shares of Lennar stock in a transaction on Wednesday, April 10th. The shares were purchased at an average cost of $157.00 per share, with a total value of $247,275.00. Following the completion of the transaction, the director now directly owns 11,859 shares in the company, valued at approximately $1,861,863. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the completion of the sale, the executive vice president now directly owns 128,629 shares of the company’s stock, valued at approximately $20,927,938.30. The disclosure for this sale can be found here. Insiders sold 29,176 shares of company stock valued at $4,841,039 in the last ninety days. Company insiders own 9.36% of the company’s stock.

Lennar Stock Up 0.5 %

LEN opened at $149.87 on Monday. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $172.59. The business has a 50-day moving average of $156.22 and a two-hundred day moving average of $155.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The stock has a market capitalization of $41.71 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 1.35 and a beta of 1.56.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Analysts Set New Price Targets

A number of research firms have commented on LEN. BTIG Research reduced their target price on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, June 20th. Oppenheimer reissued a “market perform” rating on shares of Lennar in a research note on Friday, March 15th. Barclays lifted their price objective on Lennar from $173.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Evercore ISI cut their price target on Lennar from $238.00 to $237.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. Finally, JMP Securities reissued a “market outperform” rating and issued a $170.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $167.31.

Lennar Company 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.