Capital Investment Advisors LLC Boosts Stake in Lennar Co. (NYSE:LEN)

Capital Investment Advisors LLC grew its position in Lennar Co. (NYSE:LEN) by 4.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 199,782 shares of the construction company’s stock after acquiring an additional 9,145 shares during the period. Capital Investment Advisors LLC’s holdings in Lennar were worth $25,035,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Close Asset Management Ltd acquired a new stake in shares of Lennar in the first quarter valued at $37,000. MV Capital Management Inc. grew its stake in shares of Lennar by 47.0% in the first quarter. MV Capital Management Inc. now owns 397 shares of the construction company’s stock valued at $42,000 after buying an additional 127 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Lennar by 22.6% in the first quarter. Brown Brothers Harriman & Co. now owns 717 shares of the construction company’s stock valued at $75,000 after buying an additional 132 shares in the last quarter. Money Concepts Capital Corp grew its stake in shares of Lennar by 494.4% in the fourth quarter. Money Concepts Capital Corp now owns 737 shares of the construction company’s stock valued at $67,000 after buying an additional 613 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of Lennar by 11,037.5% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 891 shares of the construction company’s stock valued at $94,000 after buying an additional 883 shares in the last quarter. 79.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LEN has been the subject of several analyst reports. Barclays boosted their target price on Lennar from $120.00 to $135.00 in a research note on Wednesday, May 24th. Bank of America boosted their target price on Lennar from $103.00 to $120.00 in a research note on Wednesday, June 14th. BTIG Research boosted their target price on Lennar from $120.00 to $148.00 in a research note on Friday, June 16th. Wedbush reissued a “neutral” rating and set a $123.00 target price on shares of Lennar in a research note on Monday, September 11th. Finally, JMP Securities boosted their target price on Lennar from $115.00 to $135.00 in a research note on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $127.56.

Insider Buying and Selling at Lennar

In other Lennar news, CFO Diane J. Bessette sold 10,790 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $121.46, for a total transaction of $1,310,553.40. Following the completion of the sale, the chief financial officer now directly owns 270,556 shares of the company’s stock, valued at approximately $32,861,731.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Lennar news, Director Amy Banse bought 859 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $117.65 per share, with a total value of $101,061.35. Following the purchase, the director now owns 8,972 shares in the company, valued at approximately $1,055,555.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Diane J. Bessette sold 10,790 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $121.46, for a total value of $1,310,553.40. Following the transaction, the chief financial officer now directly owns 270,556 shares of the company’s stock, valued at $32,861,731.76. The disclosure for this sale can be found here. Insiders purchased a total of 2,634 shares of company stock valued at $321,855 in the last ninety days. Insiders own 9.53% of the company’s stock.

Lennar Stock Performance

Shares of Lennar stock traded down $2.94 on Friday, hitting $114.76. The stock had a trading volume of 6,402,254 shares, compared to its average volume of 2,209,171. Lennar Co. has a 52-week low of $69.90 and a 52-week high of $133.24. The company has a current ratio of 7.09, a quick ratio of 1.25 and a debt-to-equity ratio of 0.15. The stock has a market cap of $32.98 billion, a price-to-earnings ratio of 7.83, a P/E/G ratio of 1.53 and a beta of 1.48. The company’s 50 day moving average price is $122.48 and its 200 day moving average price is $114.50.

Lennar (NYSE:LEN) last posted its earnings results on Friday, September 15th. The construction company reported $3.91 earnings per share for the quarter, beating the consensus estimate of $3.52 by $0.39. Lennar had a return on equity of 18.27% and a net margin of 12.66%. The business had revenue of $8.73 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same period in the previous year, the business earned $5.18 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts anticipate that Lennar Co. will post 12.65 EPS for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 7th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, July 6th. Lennar’s dividend payout ratio is presently 10.24%.

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.