Denali Advisors LLC Trims Stock Holdings in Lennar Co. (NYSE:LEN)

Denali Advisors LLC trimmed its holdings in Lennar Co. (NYSE:LEN) by 14.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,427 shares of the construction company’s stock after selling 902 shares during the quarter. Denali Advisors LLC’s holdings in Lennar were worth $933,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Algert Global LLC purchased a new position in Lennar during the 3rd quarter worth $230,000. Lazard Asset Management LLC boosted its position in Lennar by 4.7% during the 3rd quarter. Lazard Asset Management LLC now owns 166,789 shares of the construction company’s stock valued at $18,718,000 after acquiring an additional 7,514 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Lennar by 10.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 16,266 shares of the construction company’s stock valued at $1,826,000 after acquiring an additional 1,537 shares in the last quarter. Evergreen Capital Management LLC boosted its position in Lennar by 7.4% during the 3rd quarter. Evergreen Capital Management LLC now owns 2,583 shares of the construction company’s stock valued at $290,000 after acquiring an additional 179 shares in the last quarter. Finally, Eminence Capital LP boosted its position in Lennar by 14.8% during the 3rd quarter. Eminence Capital LP now owns 803,219 shares of the construction company’s stock valued at $90,145,000 after acquiring an additional 103,647 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Argus increased their target price on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. JMP Securities reaffirmed a “market outperform” rating and set a $170.00 price target on shares of Lennar in a research report on Thursday, June 20th. JPMorgan Chase & Co. lowered their price target on Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Wells Fargo & Company lifted their price target on Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Evercore ISI cut their price target on Lennar from $238.00 to $237.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $166.69.

Insider Buying and Selling at Lennar

In other news, Director Amy Banse bought 1,575 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were bought at an average price of $157.00 per share, with a total value of $247,275.00. Following the completion of the transaction, the director now directly owns 11,859 shares in the company, valued at $1,861,863. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Amy Banse acquired 1,575 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were acquired at an average price of $157.00 per share, with a total value of $247,275.00. Following the completion of the transaction, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Mark Sustana sold 9,176 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the sale, the vice president now 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. Insiders have sold a total of 29,176 shares of company stock valued at $4,841,039 over the last quarter. 9.36% of the stock is owned by company insiders.

Lennar Trading Down 0.2 %

LEN traded down $0.33 during trading hours on Wednesday, reaching $143.28. The company’s stock had a trading volume of 1,116,329 shares, compared to its average volume of 2,099,375. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $172.59. The stock has a market cap of $39.88 billion, a PE ratio of 9.75, a P/E/G ratio of 1.35 and a beta of 1.60. The business’s 50-day moving average is $155.87 and its 200-day moving average is $155.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Friday, July 5th. Lennar’s payout ratio is 13.60%.

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.