Axxcess Wealth Management LLC Makes New Investment in Lennar Co. (NYSE:LEN)

Axxcess Wealth Management LLC bought a new position in shares of Lennar Co. (NYSE:LEN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,836 shares of the construction company’s stock, valued at approximately $532,000.

Several other institutional investors have also recently bought and sold shares of the business. Arrow Financial Corp grew its holdings in shares of Lennar by 27.9% during the third quarter. Arrow Financial Corp now owns 10,314 shares of the construction company’s stock worth $1,934,000 after purchasing an additional 2,248 shares during the last quarter. Equitable Trust Co. lifted its stake in Lennar by 22.4% in the third quarter. Equitable Trust Co. now owns 1,997 shares of the construction company’s stock valued at $374,000 after buying an additional 366 shares during the period. CWA Asset Management Group LLC acquired a new position in Lennar in the third quarter valued at approximately $2,352,000. Stiles Financial Services Inc lifted its stake in Lennar by 4.5% in the third quarter. Stiles Financial Services Inc now owns 7,020 shares of the construction company’s stock valued at $1,317,000 after buying an additional 302 shares during the period. Finally, Portside Wealth Group LLC lifted its stake in Lennar by 4.7% in the third quarter. Portside Wealth Group LLC now owns 1,871 shares of the construction company’s stock valued at $351,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Buying and Selling at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the transaction, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.36% of the stock is owned by company insiders.

Lennar Trading Up 0.1 %

NYSE LEN opened at $166.33 on Thursday. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. Lennar Co. has a twelve month low of $125.17 and a twelve month high of $193.80. The firm has a market capitalization of $45.12 billion, a PE ratio of 11.12, a P/E/G ratio of 1.56 and a beta of 1.62. The stock’s 50 day moving average is $179.96 and its 200 day moving average is $168.67.

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

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of research reports. JMP Securities upped their target price on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Citigroup upped their price objective on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. The Goldman Sachs Group downgraded Lennar from a “buy” rating to a “neutral” rating and cut their price target for the stock from $180.00 to $174.00 in a research note on Monday, July 22nd. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Finally, Bank of America raised their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $180.56.

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.