Lennar Co. (NYSE:LEN) Shares Acquired by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC boosted its position in shares of Lennar Co. (NYSE:LEN) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,557 shares of the construction company’s stock after purchasing an additional 1,092 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Lennar were worth $3,666,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Oakworth Capital Inc. purchased a new stake in Lennar during the 3rd quarter worth about $27,000. Wolff Wiese Magana LLC raised its position in shares of Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after buying an additional 140 shares during the last quarter. GHP Investment Advisors Inc. purchased a new position in shares of Lennar during the third quarter valued at approximately $30,000. Asset Dedication LLC grew its stake in Lennar by 4,225.0% in the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after acquiring an additional 169 shares during the period. Finally, DT Investment Partners LLC lifted its stake in shares of Lennar by 523.3% during the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Bank Of America (Bofa) upped their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods increased their price target on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Citigroup upped their price objective on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada raised their price objective on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $184.29.

Lennar Trading Down 1.5 %

LEN opened at $164.95 on Friday. The firm’s fifty day moving average price is $175.66 and its 200 day moving average price is $169.79. The stock has a market capitalization of $44.74 billion, a PE ratio of 10.92, a P/E/G ratio of 1.44 and a beta of 1.61. Lennar Co. has a 12-month low of $132.27 and a 12-month 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.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $3.91 EPS. As a group, research analysts expect that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.21%. The ex-dividend date was Wednesday, October 9th. Lennar’s payout ratio is currently 13.25%.

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.