Bleakley Financial Group LLC Acquires 113 Shares of Lennar Co. (NYSE:LEN)

Bleakley Financial Group LLC raised its stake in Lennar Co. (NYSE:LEN) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,124 shares of the construction company’s stock after acquiring an additional 113 shares during the quarter. Bleakley Financial Group LLC’s holdings in Lennar were worth $881,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Integrated Advisors Network LLC raised its position in Lennar by 177.3% in the fourth quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock valued at $4,659,000 after purchasing an additional 19,985 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services grew its holdings in shares of Lennar by 331.8% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock worth $2,069,000 after purchasing an additional 9,246 shares during the last quarter. Grayhawk Investment Strategies Inc. bought a new position in Lennar in the 4th quarter valued at approximately $838,000. Coastline Trust Co boosted its position in Lennar by 80.8% during the 4th quarter. Coastline Trust Co now owns 24,515 shares of the construction company’s stock worth $3,654,000 after buying an additional 10,957 shares during the period. Finally, Norden Group LLC acquired a new position in Lennar in the 1st quarter valued at approximately $5,592,000. 81.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LEN shares. Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $183.00 price target on shares of Lennar in a research note on Tuesday, June 18th. Citigroup reaffirmed a “neutral” rating and issued a $164.00 price objective (down from $174.00) on shares of Lennar in a research note on Tuesday, July 2nd. Wedbush upgraded shares of Lennar from an “underperform” rating to a “neutral” rating and set a $144.00 price target for the company in a report on Tuesday, July 9th. Finally, Evercore ISI increased their price objective on shares of Lennar from $237.00 to $240.00 and gave the stock an “outperform” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $166.88.

Lennar Stock Performance

Shares of Lennar stock opened at $166.48 on Thursday. The business has a 50-day simple moving average of $155.00 and a 200 day simple moving average of $155.68. The firm has a market capitalization of $45.72 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.53 and a beta of 1.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. Lennar Co. has a one year low of $102.90 and a one year high of $172.59.

Lennar (NYSE:LEN) last issued its earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.18. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. On average, research analysts anticipate that Lennar Co. will post 14.24 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, July 5th. Lennar’s payout ratio is presently 13.60%.

Insider Buying and Selling

In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of Lennar stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the transaction, the insider now owns 118,629 shares of the company’s stock, valued at $20,179,979.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the transaction, the insider now directly owns 118,629 shares in the company, valued at $20,179,979.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Mark Sustana sold 9,176 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 16,768 shares of the company’s stock, valued at $2,764,707.84. The disclosure for this sale can be found here. Insiders have sold 29,176 shares of company stock worth $4,841,039 in the last quarter. Insiders own 9.36% of the company’s stock.

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.