Cornerstone Wealth Group LLC Takes $532,000 Position in Lennar Co. (NYSE:LEN)

Cornerstone Wealth Group LLC acquired a new stake in shares of Lennar Co. (NYSE:LEN) during the first quarter, HoldingsChannel.com reports. The fund acquired 3,092 shares of the construction company’s stock, valued at approximately $532,000.

Other hedge funds have also made changes to their positions in the company. Rise Advisors LLC boosted its stake in Lennar by 484.0% during the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after purchasing an additional 121 shares during the period. Raleigh Capital Management Inc. bought a new stake in Lennar during the 3rd quarter valued at approximately $28,000. Criterion Capital Advisors LLC bought a new stake in Lennar during the 4th quarter valued at approximately $36,000. Sunbelt Securities Inc. bought a new stake in Lennar during the 1st quarter valued at approximately $44,000. Finally, Accent Capital Management LLC bought a new stake in Lennar during the 4th quarter valued at approximately $54,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Activity at Lennar

In related news, VP Mark Sustana sold 9,176 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the completion of the sale, the vice president now directly owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Mark Sustana sold 9,176 shares of Lennar stock in a transaction on Monday, May 20th. The stock was sold at an average price of $164.88, for a total value of $1,512,938.88. Following the completion of the sale, the vice president now directly owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of Lennar stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total value of $1,701,100.00. Following the completion of the sale, the insider now directly owns 118,629 shares of the company’s stock, valued at $20,179,979.19. 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 three months. Corporate insiders own 9.36% of the company’s stock.

Lennar Trading Up 0.5 %

LEN stock opened at $149.87 on Monday. The business has a fifty day moving average price of $156.22 and a 200 day moving average price of $155.54. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $172.59. The stock has a market capitalization of $41.71 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 1.35 and a beta of 1.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91.

Lennar Dividend Announcement

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

Analyst Ratings Changes

LEN has been the subject of several recent analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $183.00 target price on shares of Lennar in a research note on Tuesday, June 18th. Royal Bank of Canada reiterated an “underperform” rating and issued a $145.00 price objective on shares of Lennar in a research report on Thursday, June 20th. StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Wells Fargo & Company raised their price objective on Lennar from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. reduced their price objective on Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Lennar presently has an average rating of “Hold” and an average price target of $167.31.

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.