Westfield Capital Management Co. LP Has $8.35 Million Stake in Lennar Co. (NYSE:LEN)

Westfield Capital Management Co. LP increased its stake in shares of Lennar Co. (NYSE:LEN) by 6.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,534 shares of the construction company’s stock after buying an additional 3,117 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Lennar were worth $8,347,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Integrated Advisors Network LLC boosted its position in shares of Lennar by 177.3% during the 4th quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock worth $4,659,000 after acquiring an additional 19,985 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services raised its holdings in shares of Lennar by 331.8% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock worth $2,069,000 after buying an additional 9,246 shares in the last quarter. Grayhawk Investment Strategies Inc. bought a new stake in shares of Lennar during the 4th quarter worth $838,000. Coastline Trust Co boosted its stake in Lennar by 80.8% in the fourth quarter. Coastline Trust Co now owns 24,515 shares of the construction company’s stock valued at $3,654,000 after buying an additional 10,957 shares in the last quarter. Finally, Norden Group LLC acquired a new position in Lennar during the first quarter worth about $5,592,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Up 0.5 %

LEN traded up $0.91 during trading on Friday, reaching $170.94. 1,823,108 shares of the stock traded hands, compared to its average volume of 2,509,909. The stock’s 50-day moving average is $155.34 and its 200 day moving average is $155.99. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $177.79. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $46.94 billion, a PE ratio of 11.62, a P/E/G ratio of 1.54 and a beta of 1.60.

Lennar (NYSE:LEN) last released its earnings results on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, topping the consensus estimate of $3.20 by $0.18. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Equities analysts anticipate that Lennar Co. will post 14.24 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.17%. The ex-dividend date was Friday, July 5th. Lennar’s dividend payout ratio is presently 13.60%.

Insiders Place Their Bets

In other news, VP Mark Sustana sold 9,176 shares of the stock in a transaction dated 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 transaction, the vice president now owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Mark Sustana sold 9,176 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was 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 in the company, valued at $2,764,707.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total value of $1,701,100.00. Following the completion of the transaction, the insider now owns 118,629 shares in the company, valued at $20,179,979.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,176 shares of company stock worth $4,841,039. 9.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LEN has been the topic of several research reports. Evercore ISI lifted their price target on shares of Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Citigroup reiterated a “neutral” rating and issued a $164.00 price target (down from $174.00) on shares of Lennar in a research note on Tuesday, July 2nd. JMP Securities restated a “market outperform” rating and set a $170.00 price objective on shares of Lennar in a research report on Thursday, June 20th. Raymond James downgraded Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Finally, Royal Bank of Canada restated an “underperform” rating and set a $145.00 price target on shares of Lennar in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Lennar presently has an average rating of “Hold” and a consensus target price of $166.88.

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, 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.