Chevy Chase Trust Holdings LLC Sells 2,239 Shares of Lennar Co. (NYSE:LEN)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Lennar Co. (NYSE:LEN) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,503 shares of the construction company’s stock after selling 2,239 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Lennar were worth $23,648,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LEN. Rise Advisors LLC grew its holdings in shares of Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after buying an additional 121 shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Lennar in the third quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in Lennar during the first quarter worth $35,000. Criterion Capital Advisors LLC bought a new stake in Lennar during the 4th quarter worth about $36,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of Lennar during the 1st quarter worth about $44,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Buying and Selling

In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the business’s stock in a transaction that occurred 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 owns 128,629 shares in the company, valued at $20,927,938.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Mark Sustana sold 9,176 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the completion of the transaction, 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 hyperlink. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $162.70, for a total value of $1,627,000.00. Following the transaction, the executive vice president now directly owns 128,629 shares in the company, valued at approximately $20,927,938.30. The disclosure for this sale can be found here. Insiders have sold a total of 29,176 shares of company stock valued at $4,841,039 over the last ninety days. 9.36% of the stock is owned by corporate insiders.

Lennar Price Performance

Shares of LEN traded up $4.66 during midday trading on Thursday, hitting $150.38. The company’s stock had a trading volume of 212,097 shares, compared to its average volume of 2,085,610. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. Lennar Co. has a one year low of $102.90 and a one year high of $172.59. The stock has a market capitalization of $41.86 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 1.29 and a beta of 1.60. The company’s fifty day simple moving average is $154.66 and its two-hundred day simple moving average is $155.20.

Lennar Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LEN shares. BTIG Research dropped their price objective on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. dropped their price target on Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Evercore ISI reduced their price objective on shares of Lennar from $238.00 to $237.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $183.00 price objective on shares of Lennar in a research report on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $166.69.

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.