Lennar Co. (NYSE:LEN) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC cut its holdings in shares of Lennar Co. (NYSE:LEN) by 29.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,918 shares of the construction company’s stock after selling 2,448 shares during the quarter. Private Advisor Group LLC’s holdings in Lennar were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Benjamin Edwards Inc. increased its position in shares of Lennar by 7.2% during the fourth quarter. Benjamin Edwards Inc. now owns 1,027 shares of the construction company’s stock valued at $153,000 after acquiring an additional 69 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Lennar by 1.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock valued at $663,000 after purchasing an additional 70 shares during the period. Nilsine Partners LLC boosted its position in shares of Lennar by 1.7% during the first quarter. Nilsine Partners LLC now owns 4,554 shares of the construction company’s stock worth $783,000 after buying an additional 75 shares during the period. Savant Capital LLC grew its stake in shares of Lennar by 0.9% in the fourth quarter. Savant Capital LLC now owns 8,361 shares of the construction company’s stock valued at $1,246,000 after buying an additional 78 shares in the last quarter. Finally, RFG Advisory LLC raised its holdings in shares of Lennar by 2.1% in the 4th quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock valued at $573,000 after buying an additional 79 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Argus lifted their target price on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Oppenheimer reiterated a “market perform” rating on shares of Lennar in a report on Friday, March 15th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $183.00 price target on shares of Lennar in a research note on Tuesday, June 18th. Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Finally, BTIG Research lowered their target price on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $166.69.

Insiders Place Their Bets

In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 128,629 shares of the company’s stock, valued at $20,927,938.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lennar news, VP Mark Sustana sold 9,176 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $164.88, for a total value of $1,512,938.88. Following the transaction, the vice president now directly owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s 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 transaction, the executive vice president now 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. In the last three months, insiders have sold 29,176 shares of company stock valued at $4,841,039. Insiders own 9.36% of the company’s stock.

Lennar Stock Performance

NYSE LEN opened at $155.83 on Friday. The company has a fifty day moving average of $154.67 and a two-hundred day moving average of $155.21. 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 Co. has a 1 year low of $102.90 and a 1 year high of $172.59. The company has a market capitalization of $43.37 billion, a PE ratio of 10.59, a P/E/G ratio of 1.29 and a beta of 1.60.

Lennar (NYSE:LEN) last released its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.18. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.57 billion. As a group, analysts expect that Lennar Co. will post 14.21 earnings per share for the current year.

Lennar Announces Dividend

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 paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, July 5th. Lennar’s dividend payout ratio is currently 13.60%.

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.