Commonwealth Retirement Investments LLC Acquires 476 Shares of Lennar Co. (NYSE:LEN)

Commonwealth Retirement Investments LLC lifted its holdings in Lennar Co. (NYSE:LEN) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,227 shares of the construction company’s stock after acquiring an additional 476 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Lennar were worth $1,167,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LEN. Oakworth Capital Inc. purchased a new stake in Lennar during the 3rd quarter valued at approximately $27,000. Wolff Wiese Magana LLC grew its stake in Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in Lennar in the 1st quarter valued at $30,000. GHP Investment Advisors Inc. purchased a new stake in Lennar in the 3rd quarter worth $30,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of Lennar during the 1st quarter valued at about $32,000. Institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.36% of the stock is currently owned by corporate insiders.

Lennar Stock Performance

NYSE:LEN traded down $4.21 during midday trading on Tuesday, hitting $168.09. The company’s stock had a trading volume of 289,996 shares, compared to its average volume of 2,045,406. Lennar Co. has a fifty-two week low of $120.50 and a fifty-two week high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The firm has a market cap of $45.59 billion, a P/E ratio of 11.41, a P/E/G ratio of 1.61 and a beta of 1.62. The firm’s 50 day moving average is $180.20 and its 200-day moving average is $168.59.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the prior year, the business earned $3.91 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.25%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. JMP Securities upped their price target on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Wedbush reissued a “neutral” rating and set a $144.00 target price on shares of Lennar in a research report on Friday, September 20th. Finally, Bank Of America (Bofa) lifted their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $180.56.

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.