Lennar Co. (NYSE:LEN) Stake Decreased by FCG Investment Co

FCG Investment Co lessened its holdings in shares of Lennar Co. (NYSE:LEN) by 29.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,976 shares of the construction company’s stock after selling 824 shares during the period. FCG Investment Co’s holdings in Lennar were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in shares of Lennar by 5.9% during the third quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock valued at $734,477,000 after acquiring an additional 366,983 shares during the period. Pacer Advisors Inc. increased its stake in shares of Lennar by 3.0% during the fourth quarter. Pacer Advisors Inc. now owns 2,681,233 shares of the construction company’s stock valued at $399,611,000 after acquiring an additional 79,217 shares during the period. Nordea Investment Management AB increased its stake in shares of Lennar by 4.4% during the fourth quarter. Nordea Investment Management AB now owns 1,700,016 shares of the construction company’s stock valued at $253,319,000 after acquiring an additional 72,146 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Lennar by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,550,371 shares of the construction company’s stock valued at $231,067,000 after acquiring an additional 8,008 shares during the period. Finally, Eminence Capital LP increased its stake in shares of Lennar by 14.8% during the third quarter. Eminence Capital LP now owns 803,219 shares of the construction company’s stock valued at $90,145,000 after acquiring an additional 103,647 shares during the period. Institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling

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

Lennar Stock Performance

Shares of LEN traded down $0.33 during trading hours on Thursday, reaching $143.28. 1,116,434 shares of the company traded hands, compared to its average volume of 2,566,106. The stock’s fifty day moving average is $155.65 and its 200 day moving average is $155.35. The stock has a market cap of $39.88 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 1.29 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 1-year low of $102.90 and a 1-year high of $172.59.

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 given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, July 5th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LEN. BTIG Research decreased their price target on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. Evercore ISI decreased their price target on shares of Lennar from $238.00 to $237.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. Royal Bank of Canada restated an “underperform” rating and issued a $145.00 price target on shares of Lennar in a research report on Thursday, June 20th. Argus lifted their price objective on shares of Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $183.00 price objective on shares of Lennar in a research report on Tuesday, June 18th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Lennar currently has a consensus rating of “Hold” and a consensus target price of $166.69.

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.