SVB Wealth LLC Sells 865 Shares of Lennar Co. (NYSE:LEN)

SVB Wealth LLC lessened its holdings in Lennar Co. (NYSE:LEN) by 20.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,378 shares of the construction company’s stock after selling 865 shares during the quarter. SVB Wealth LLC’s holdings in Lennar were worth $503,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in LEN. RFG Advisory LLC increased its position in Lennar by 2.1% during the 4th quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock valued at $573,000 after buying an additional 79 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Lennar by 2.3% in the 2nd quarter. Raymond James Trust N.A. now owns 4,144 shares of the construction company’s stock worth $520,000 after purchasing an additional 93 shares in the last quarter. Merit Financial Group LLC grew its position in Lennar by 2.6% during the 3rd quarter. Merit Financial Group LLC now owns 4,009 shares of the construction company’s stock valued at $450,000 after purchasing an additional 101 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Lennar by 4.2% in the third quarter. Verdence Capital Advisors LLC now owns 2,810 shares of the construction company’s stock worth $315,000 after buying an additional 113 shares during the last quarter. Finally, Ieq Capital LLC lifted its stake in shares of Lennar by 7.0% in the third quarter. Ieq Capital LLC now owns 1,808 shares of the construction company’s stock worth $203,000 after buying an additional 118 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Lennar news, Director Amy Banse bought 1,575 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the transaction, the director now owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the topic of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $170.00 price objective on shares of Lennar in a research report on Friday, March 15th. Oppenheimer reaffirmed a “market perform” rating on shares of Lennar in a research report on Friday, March 15th. Citigroup upped their target price on shares of Lennar from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Wells Fargo & Company lifted their price target on shares of Lennar from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, Barclays increased their price objective on shares of Lennar from $173.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lennar has an average rating of “Moderate Buy” and an average target price of $163.88.

Lennar Stock Performance

Shares of LEN opened at $150.19 on Friday. The business has a 50-day simple moving average of $159.57 and a two-hundred day simple moving average of $142.54. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $172.59. The stock has a market cap of $41.80 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.42 and a beta of 1.53.

Lennar (NYSE:LEN) last released its earnings results on Thursday, March 14th. The construction company reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. The company had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.39 billion. Lennar had a net margin of 11.59% and a return on equity of 15.90%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.12 EPS. On average, analysts expect that Lennar Co. will post 14.46 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.33%. Lennar’s payout ratio is presently 14.02%.

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.