Lennar Co. (NYSE:LEN) Shares Acquired by Jupiter Wealth Management LLC

Jupiter Wealth Management LLC increased its holdings in Lennar Co. (NYSE:LEN) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,667 shares of the construction company’s stock after acquiring an additional 75 shares during the quarter. Jupiter Wealth Management LLC’s holdings in Lennar were worth $1,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LEN. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Lennar by 56.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,965 shares of the construction company’s stock valued at $1,198,000 after buying an additional 2,517 shares during the period. Wealthspire Advisors LLC purchased a new position in Lennar during the 1st quarter valued at about $207,000. Atomi Financial Group Inc. lifted its holdings in shares of Lennar by 14.9% in the first quarter. Atomi Financial Group Inc. now owns 2,704 shares of the construction company’s stock valued at $465,000 after purchasing an additional 350 shares in the last quarter. Choate Investment Advisors purchased a new position in shares of Lennar during the 1st quarter worth approximately $223,000. Finally, Headlands Technologies LLC acquired a new position in shares of Lennar during the 1st quarter worth approximately $127,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Activity at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction that occurred on 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 9.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LEN has been the subject of a number of analyst reports. Bank Of America (Bofa) boosted their price objective on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. The Goldman Sachs Group lowered Lennar from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $180.00 to $174.00 in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Finally, Wells Fargo & Company dropped their price objective on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Lennar presently has a consensus rating of “Hold” and a consensus target price of $180.56.

Lennar Stock Performance

Shares of Lennar stock opened at $172.25 on Monday. The firm has a market cap of $46.72 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.61 and a beta of 1.62. Lennar Co. has a 1 year low of $120.50 and a 1 year high of $193.80. The firm’s 50-day simple moving average is $180.40 and its 200-day simple moving average is $168.45. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90.

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

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is 13.25%.

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.