Advisors Asset Management Inc. Decreases Stock Position in Lennar Co. (NYSE:LEN)

Advisors Asset Management Inc. reduced its position in Lennar Co. (NYSE:LEN) by 10.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,509 shares of the construction company’s stock after selling 1,447 shares during the quarter. Advisors Asset Management Inc.’s holdings in Lennar were worth $2,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of LEN. Kingswood Wealth Advisors LLC purchased a new stake in Lennar in the fourth quarter worth $276,000. Ritholtz Wealth Management boosted its holdings in shares of Lennar by 48.3% in the fourth quarter. Ritholtz Wealth Management now owns 7,016 shares of the construction company’s stock worth $1,046,000 after acquiring an additional 2,285 shares during the period. Unison Advisors LLC boosted its holdings in shares of Lennar by 0.3% in the fourth quarter. Unison Advisors LLC now owns 36,561 shares of the construction company’s stock worth $5,449,000 after acquiring an additional 123 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Lennar by 4.2% in the fourth quarter. Fifth Third Bancorp now owns 10,358 shares of the construction company’s stock worth $1,544,000 after acquiring an additional 413 shares during the period. Finally, Osborne Partners Capital Management LLC bought a new position in shares of Lennar in the fourth quarter worth $256,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lennar

In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the completion of the transaction, the executive vice president now owns 128,629 shares of the company’s stock, valued at $20,927,938.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Mark Sustana sold 9,176 shares of the firm’s stock in a transaction on 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 completion of the transaction, the vice president now directly owns 16,768 shares in the company, valued at $2,764,707.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $162.70, for a total value of $1,627,000.00. Following the sale, the executive vice president now owns 128,629 shares of the company’s stock, valued at $20,927,938.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,176 shares of company stock valued at $4,841,039. 9.36% of the stock is currently owned by company insiders.

Lennar Stock Performance

Shares of LEN stock opened at $176.71 on Friday. The stock has a fifty day moving average of $156.05 and a 200 day moving average of $156.88. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $178.75. The firm has a market capitalization of $48.52 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.60 and a beta of 1.60. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.18. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. As a group, research analysts expect that Lennar Co. will post 14.16 earnings per share for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Friday, July 5th. Lennar’s dividend payout ratio is currently 13.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $183.00 price objective on shares of Lennar in a research note on Tuesday, June 18th. StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. dropped their price objective on Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Finally, Wedbush raised Lennar from an “underperform” rating to a “neutral” rating and set a $144.00 price objective for the company in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $167.88.

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.