Farmers & Merchants Investments Inc. Boosts Position in Lennar Co. (NYSE:LEN)

Farmers & Merchants Investments Inc. grew its holdings in shares of Lennar Co. (NYSE:LEN) by 51.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 271 shares of the construction company’s stock after buying an additional 92 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Lennar were worth $47,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in LEN. Algert Global LLC purchased a new position in shares of Lennar during the third quarter valued at approximately $230,000. Lazard Asset Management LLC grew its stake in Lennar by 4.7% in the third quarter. Lazard Asset Management LLC now owns 166,789 shares of the construction company’s stock worth $18,718,000 after purchasing an additional 7,514 shares during the period. Advisors Asset Management Inc. grew its stake in Lennar by 10.4% in the third quarter. Advisors Asset Management Inc. now owns 16,266 shares of the construction company’s stock worth $1,826,000 after purchasing an additional 1,537 shares during the period. Evergreen Capital Management LLC grew its stake in Lennar by 7.4% in the third quarter. Evergreen Capital Management LLC now owns 2,583 shares of the construction company’s stock worth $290,000 after purchasing an additional 179 shares during the period. Finally, Eminence Capital LP grew its stake in Lennar by 14.8% in the third quarter. Eminence Capital LP now owns 803,219 shares of the construction company’s stock worth $90,145,000 after purchasing an additional 103,647 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lennar

In related news, Director Amy Banse acquired 1,575 shares of Lennar stock in a transaction dated Wednesday, April 10th. The stock was purchased at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the purchase, the director now directly owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Amy Banse bought 1,575 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were bought at an average cost of $157.00 per share, with a total value of $247,275.00. Following the acquisition, the director now owns 11,859 shares in the company, valued at $1,861,863. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Mark Sustana sold 9,176 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $164.88, for a total value of $1,512,938.88. Following the completion of the transaction, the vice president now directly owns 16,768 shares in the company, valued at $2,764,707.84. The disclosure for this sale can be found here. Insiders have sold 29,176 shares of company stock worth $4,841,039 in the last quarter. Company insiders own 9.36% of the company’s stock.

Lennar Stock Performance

Shares of NYSE:LEN traded down $3.39 during midday trading on Tuesday, reaching $142.54. 1,401,571 shares of the company’s stock traded hands, compared to its average volume of 2,099,019. The company has a market cap of $39.67 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 1.35 and a beta of 1.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. Lennar Co. has a one year low of $102.90 and a one year high of $172.59. The stock has a 50 day moving average of $156.22 and a 200 day moving average of $155.54.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, July 5th. Lennar’s payout ratio is currently 13.60%.

Analyst Ratings Changes

LEN has been the topic of several recent research reports. StockNews.com cut Lennar from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Raymond James downgraded Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on Lennar from $110.00 to $122.00 and gave the stock a “sell” rating in a report on Thursday, March 14th. BTIG Research dropped their target price on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $183.00 target price on shares of Lennar in a report on Tuesday, June 18th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.