Illinois Municipal Retirement Fund acquired a new stake in shares of Lennar Co. (NYSE:LEN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 13,056 shares of the construction company’s stock, valued at approximately $728,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in LEN. Allred Capital Management LLC purchased a new stake in Lennar during the 4th quarter valued at approximately $31,000. FinTrust Capital Advisors LLC purchased a new position in shares of Lennar in the third quarter valued at $56,000. Evoke Wealth LLC purchased a new position in shares of Lennar in the third quarter valued at $106,000. Penserra Capital Management LLC grew its holdings in shares of Lennar by 38.0% in the third quarter. Penserra Capital Management LLC now owns 2,065 shares of the construction company’s stock valued at $114,000 after purchasing an additional 569 shares in the last quarter. Finally, Regentatlantic Capital LLC purchased a new position in shares of Lennar in the third quarter valued at $204,000. 86.35% of the stock is owned by institutional investors and hedge funds.
NYSE LEN opened at $70.35 on Friday. The company has a quick ratio of 1.15, a current ratio of 14.37 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $63.01 and a two-hundred day moving average of $57.58. The firm has a market capitalization of $22.03 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.09 and a beta of 1.02. Lennar Co. has a 52 week low of $44.84 and a 52 week high of $71.23.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 24th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.71%. This is an increase from Lennar’s previous quarterly dividend of $0.04. The ex-dividend date was Thursday, January 23rd. Lennar’s dividend payout ratio (DPR) is 8.71%.
A number of research analysts recently weighed in on the stock. Royal Bank of Canada lowered shares of Lennar from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $63.00 to $62.00 in a report on Tuesday, December 17th. Argus raised their target price on shares of Lennar from $60.00 to $65.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Wedbush reissued a “buy” rating and issued a $72.00 target price on shares of Lennar in a report on Monday, December 30th. ValuEngine raised shares of Lennar from a “strong sell” rating to a “sell” rating in a report on Friday, January 10th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Lennar in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $61.94.
In related news, Director Scott D. Stowell sold 300,000 shares of Lennar stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $67.20, for a total value of $20,160,000.00. Following the completion of the sale, the director now directly owns 201,978 shares in the company, valued at $13,572,921.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David M. Collins sold 10,000 shares of Lennar stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $62.54, for a total value of $625,400.00. Following the completion of the sale, the insider now owns 116,631 shares of the company’s stock, valued at $7,294,102.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 360,000 shares of company stock valued at $23,840,200. Corporate insiders own 8.43% of the company’s stock.
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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.
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