Arkadios Wealth Advisors Acquires Shares of 2,067 Lennar Co. (NYSE:LEN)

Arkadios Wealth Advisors bought a new position in Lennar Co. (NYSE:LEN) during the 3rd quarter, HoldingsChannel reports. The fund bought 2,067 shares of the construction company’s stock, valued at approximately $388,000.

A number of other hedge funds have also made changes to their positions in the company. Norden Group LLC acquired a new stake in shares of Lennar during the first quarter worth approximately $5,592,000. Van ECK Associates Corp boosted its stake in Lennar by 6.6% in the first quarter. Van ECK Associates Corp now owns 40,550 shares of the construction company’s stock worth $6,974,000 after purchasing an additional 2,506 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Lennar by 1.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,222 shares of the construction company’s stock worth $8,809,000 after purchasing an additional 943 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Lennar by 12.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,227 shares of the construction company’s stock valued at $1,243,000 after buying an additional 794 shares during the last quarter. Finally, BNP Paribas acquired a new position in Lennar during the 1st quarter worth about $1,479,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now owns 23,689 shares in the company, valued at $4,148,654.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LEN shares. JPMorgan Chase & Co. boosted their target price on shares of Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Bank of America increased their price objective on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Royal Bank of Canada boosted their target price on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research report on Monday, September 23rd. Bank Of America (Bofa) lifted their price objective on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, Evercore ISI cut their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $181.11.

Lennar Stock Up 0.9 %

Shares of NYSE LEN opened at $171.60 on Thursday. The stock has a market cap of $46.55 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.62 and a beta of 1.61. The firm has a 50 day moving average price of $181.82 and a 200 day moving average price of $167.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar Co. has a 52-week low of $104.68 and a 52-week high of $193.80.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. The firm had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.91 earnings per share. Analysts expect that Lennar Co. will post 14.18 EPS for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 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.