Clearbridge Investments LLC Has $23.56 Million Holdings in Lennar Co. (NYSE:LEN)

Clearbridge Investments LLC boosted its stake in Lennar Co. (NYSE:LEN) by 339.7% in the first quarter, HoldingsChannel.com reports. The firm owned 136,993 shares of the construction company’s stock after buying an additional 105,835 shares during the period. Clearbridge Investments LLC’s holdings in Lennar were worth $23,560,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Jennison Associates LLC increased its stake in shares of Lennar by 97.4% in the fourth quarter. Jennison Associates LLC now owns 354,711 shares of the construction company’s stock valued at $52,866,000 after buying an additional 174,981 shares during the period. Cercano Management LLC acquired a new stake in Lennar during the 1st quarter valued at approximately $24,341,000. Point72 Hong Kong Ltd acquired a new position in shares of Lennar in the 4th quarter worth approximately $16,394,000. Sapient Capital LLC bought a new stake in shares of Lennar in the 4th quarter valued at $15,551,000. Finally, Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Lennar during the first quarter worth $17,404,000. 81.10% of the stock is owned by institutional investors.

Lennar Stock Down 2.2 %

Shares of Lennar stock traded down $3.86 during trading hours on Wednesday, reaching $168.79. The company’s stock had a trading volume of 3,003,159 shares, compared to its average volume of 2,156,261. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. The stock’s fifty day simple moving average is $155.76 and its two-hundred day simple moving average is $156.44. The company has a market capitalization of $46.35 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.55 and a beta of 1.60. Lennar Co. has a one year low of $102.90 and a one year high of $177.79.

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

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, July 5th. This represents a $2.00 annualized dividend and a yield of 1.18%. Lennar’s dividend payout ratio (DPR) is currently 13.60%.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of research analyst reports. The Goldman Sachs Group cut shares of Lennar from a “buy” rating to a “neutral” rating and cut their price target for the company from $180.00 to $174.00 in a research report on Monday. Citigroup restated a “neutral” rating and set a $164.00 target price (down previously from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. BTIG Research lowered their target price on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, June 20th. JPMorgan Chase & Co. cut their price target on Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $170.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $167.88.

Insider Activity at Lennar

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

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.