Lennar Co. (NYSE:LEN) Shares Acquired by Portside Wealth Group LLC

Portside Wealth Group LLC increased its stake in shares of Lennar Co. (NYSE:LEN) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,871 shares of the construction company’s stock after buying an additional 84 shares during the quarter. Portside Wealth Group LLC’s holdings in Lennar were worth $351,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. acquired a new stake in shares of Lennar in the 3rd quarter worth about $27,000. Wolff Wiese Magana LLC increased its stake in shares of Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Lennar during the first quarter valued at approximately $30,000. GHP Investment Advisors Inc. acquired a new position in shares of Lennar during the third quarter worth approximately $30,000. Finally, New Covenant Trust Company N.A. bought a new position in Lennar in the 1st quarter worth approximately $32,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Bank of America boosted their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Keefe, Bruyette & Woods raised their target price on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. upped their price target on shares of Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Citigroup raised their price objective on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, JMP Securities upped their target price on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. 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 data from MarketBeat.com, Lennar presently has a consensus rating of “Hold” and an average target price of $180.56.

Insider Buying and Selling at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the transaction, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Lennar Trading Up 0.7 %

NYSE LEN opened at $172.58 on Friday. The company has a market capitalization of $46.81 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. Lennar Co. has a 1-year low of $118.92 and a 1-year high of $193.80. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $180.40 and its 200-day simple moving average is $168.26.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. Lennar’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.91 EPS. As a group, sell-side analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.16%. Lennar’s dividend payout ratio (DPR) is presently 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.