Lennar Co. (NYSE:LEN) Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. lifted its stake in shares of Lennar Co. (NYSE:LEN) by 21.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,380 shares of the construction company’s stock after purchasing an additional 4,294 shares during the quarter. 1832 Asset Management L.P.’s holdings in Lennar were worth $4,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Integrated Advisors Network LLC boosted its position in shares of Lennar by 177.3% in the 4th quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock worth $4,659,000 after buying an additional 19,985 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its position in shares of Lennar by 331.8% in 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. purchased a new stake in shares of Lennar in the 4th quarter worth about $838,000. Coastline Trust Co boosted its position in shares of Lennar by 80.8% in the 4th quarter. Coastline Trust Co now owns 24,515 shares of the construction company’s stock worth $3,654,000 after buying an additional 10,957 shares in the last quarter. Finally, Norden Group LLC purchased a new stake in shares of Lennar in the 1st quarter worth about $5,592,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Lennar Trading Up 3.2 %

LEN traded up $5.43 on Friday, reaching $176.71. 2,211,539 shares of the company’s stock were exchanged, compared to its average volume of 2,404,686. The company’s 50 day moving average is $156.05 and its 200-day moving average is $156.88. The company has a market cap of $48.52 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.55 and a beta of 1.60. Lennar Co. has a twelve month low of $102.90 and a twelve month high of $178.75. 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 (NYSE:LEN) last posted its earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.18. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.57 billion. Lennar had a net margin of 11.58% and a return on equity of 15.93%. Equities analysts predict that Lennar Co. will post 14.16 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Friday, July 5th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LEN shares. The Goldman Sachs Group lowered shares of Lennar from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $180.00 to $174.00 in a research report on Monday, July 22nd. Citigroup restated a “neutral” rating and issued a $164.00 target price (down from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. Royal Bank of Canada restated an “underperform” rating and issued a $145.00 target price on shares of Lennar in a report on Thursday, June 20th. Wedbush upgraded shares of Lennar from an “underperform” rating to a “neutral” rating and set a $144.00 target price on the stock in a report on Tuesday, July 9th. Finally, StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Lennar has a consensus rating of “Hold” and a consensus price target of $167.88.

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.