Crossmark Global Holdings Inc. Raises Position in Lennar Co. (NYSE:LEN)

Crossmark Global Holdings Inc. grew its position in Lennar Co. (NYSE:LEN) by 11.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 79,184 shares of the construction company’s stock after purchasing an additional 7,841 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Lennar were worth $4,418,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Allred Capital Management LLC purchased a new position in shares of Lennar during the fourth quarter valued at approximately $31,000. FinTrust Capital Advisors LLC purchased a new position in shares of Lennar during the third quarter valued at approximately $56,000. Evoke Wealth LLC purchased a new position in shares of Lennar during the third quarter valued at approximately $106,000. Penserra Capital Management LLC raised its holdings in shares of Lennar by 38.0% during the third quarter. Penserra Capital Management LLC now owns 2,065 shares of the construction company’s stock valued at $114,000 after purchasing an additional 569 shares during the last quarter. Finally, Regentatlantic Capital LLC purchased a new position in shares of Lennar during the third quarter valued at approximately $204,000. 86.35% of the stock is owned by institutional investors and hedge funds.

LEN has been the subject of several research reports. ValuEngine raised shares of Lennar from a “strong sell” rating to a “sell” rating in a report on Friday, January 10th. Goldman Sachs Group initiated coverage on shares of Lennar in a report on Friday, December 6th. They set a “buy” rating and a $71.00 price objective for the company. Wells Fargo & Co reissued a “buy” rating on shares of Lennar in a report on Monday, December 9th. BTIG Research boosted their price objective on shares of Lennar from $75.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, January 9th. They noted that the move was a valuation call. Finally, Argus boosted their price objective on shares of Lennar from $60.00 to $65.00 and gave the company a “buy” rating in a report on Monday, December 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company. Lennar presently has an average rating of “Buy” and a consensus price target of $61.94.

In related news, insider David M. Collins sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $62.54, for a total transaction of $625,400.00. Following the completion of the sale, the insider now directly owns 116,631 shares in the company, valued at $7,294,102.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $56.06, for a total transaction of $1,121,200.00. Following the sale, the president now owns 237,047 shares of the company’s stock, valued at $13,288,854.82. The disclosure for this sale can be found here. Insiders have sold 360,000 shares of company stock valued at $23,840,200 over the last 90 days. 8.43% of the stock is currently owned by company insiders.

Shares of NYSE LEN opened at $70.35 on Friday. The firm has a 50 day moving average of $63.01 and a 200 day moving average of $57.58. The company has a current ratio of 14.37, a quick ratio of 1.15 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $22.03 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02. Lennar Co. has a 12-month low of $44.84 and a 12-month high of $71.23.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, January 8th. The construction company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.23. The company had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.60 billion. Lennar had a net margin of 8.31% and a return on equity of 12.00%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.96 earnings per share. Sell-side analysts predict that Lennar Co. will post 6.23 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 24th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.71%. This is a positive change from Lennar’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Thursday, January 23rd. Lennar’s payout ratio is 8.71%.

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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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