New England Research & Management Inc. Sells 3,175 Shares of Lennar Co. (NYSE:LEN)

New England Research & Management Inc. cut its position in shares of Lennar Co. (NYSE:LEN) by 19.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,475 shares of the construction company’s stock after selling 3,175 shares during the quarter. Lennar makes up about 1.1% of New England Research & Management Inc.’s holdings, making the stock its 25th biggest position. New England Research & Management Inc.’s holdings in Lennar were worth $2,317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC boosted its holdings in Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after purchasing an additional 121 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in Lennar during the third quarter worth about $28,000. Criterion Capital Advisors LLC purchased a new position in Lennar during the fourth quarter worth about $36,000. Sunbelt Securities Inc. purchased a new position in Lennar during the first quarter worth about $44,000. Finally, Accent Capital Management LLC purchased a new position in Lennar during the fourth quarter worth about $54,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total value of $1,701,100.00. Following the transaction, the insider now owns 118,629 shares of the company’s stock, valued at approximately $20,179,979.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total value of $1,701,100.00. Following the transaction, the insider now owns 118,629 shares of the company’s stock, valued at approximately $20,179,979.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mark Sustana sold 9,176 shares of the 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 approximately $2,764,707.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,176 shares of company stock valued at $4,841,039. Company insiders own 9.36% of the company’s stock.

Analyst Ratings Changes

LEN has been the topic of a number of research analyst reports. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Wedbush reiterated an “underperform” rating and issued a $144.00 target price on shares of Lennar in a research note on Tuesday, June 18th. BTIG Research dropped their target price on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. JPMorgan Chase & Co. dropped their target price on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a research note on Thursday, March 14th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $167.31.

Lennar Stock Performance

Lennar stock opened at $149.87 on Friday. The firm’s 50 day simple moving average is $156.22 and its 200 day simple moving average is $155.36. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $41.71 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $172.59.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, July 5th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

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.