Sivia Capital Partners LLC Trims Stake in Lennar Co. (NYSE:LEN)

Sivia Capital Partners LLC lowered its stake in shares of Lennar Co. (NYSE:LEN) by 20.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,571 shares of the construction company’s stock after selling 399 shares during the quarter. Sivia Capital Partners LLC’s holdings in Lennar were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of LEN. The Manufacturers Life Insurance Company boosted its stake in Lennar by 5.9% during the third quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock worth $734,477,000 after acquiring an additional 366,983 shares in the last quarter. Pacer Advisors Inc. lifted its position in Lennar by 3.0% during the fourth quarter. Pacer Advisors Inc. now owns 2,681,233 shares of the construction company’s stock valued at $399,611,000 after purchasing an additional 79,217 shares during the period. Nordea Investment Management AB lifted its position in Lennar by 4.4% during the fourth quarter. Nordea Investment Management AB now owns 1,700,016 shares of the construction company’s stock valued at $253,319,000 after purchasing an additional 72,146 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Lennar by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,550,371 shares of the construction company’s stock valued at $231,067,000 after purchasing an additional 8,008 shares during the period. Finally, Eminence Capital LP lifted its position in Lennar by 14.8% during the third quarter. Eminence Capital LP now owns 803,219 shares of the construction company’s stock valued at $90,145,000 after purchasing an additional 103,647 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Trading Down 0.1 %

LEN stock traded down $0.16 during trading on Wednesday, hitting $143.45. The company had a trading volume of 625,521 shares, compared to its average volume of 2,095,510. The firm has a market capitalization of $39.93 billion, a P/E ratio of 9.76, a PEG ratio of 1.35 and a beta of 1.60. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $172.59. The company has a 50 day simple moving average of $155.87 and a 200-day simple moving average of $155.43. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, July 5th. Lennar’s dividend payout ratio is presently 13.60%.

Insider Buying and Selling

In related news, VP Mark Sustana sold 9,176 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $164.88, for a total value of $1,512,938.88. Following the transaction, the vice president now owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Lennar news, Director Amy Banse bought 1,575 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were acquired at an average price of $157.00 per share, with a total value of $247,275.00. Following the transaction, the director now owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Mark Sustana sold 9,176 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following 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. Insiders have sold 29,176 shares of company stock valued at $4,841,039 in the last 90 days. Company insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LEN. Keefe, Bruyette & Woods restated an “outperform” rating and set a $183.00 price objective on shares of Lennar in a research report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a research report on Thursday, March 14th. Citigroup reaffirmed a “neutral” rating and set a $164.00 target price (down from $174.00) on shares of Lennar in a report on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $170.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Finally, Wedbush restated an “underperform” rating and set a $144.00 target price on shares of Lennar in a research report on Tuesday, June 18th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $166.69.

Lennar 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.