Tidal Investments LLC Acquires 6,824 Shares of Lennar Co. (NYSE:LEN)

Tidal Investments LLC lifted its holdings in shares of Lennar Co. (NYSE:LEN) by 91.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,318 shares of the construction company’s stock after acquiring an additional 6,824 shares during the period. Tidal Investments LLC’s holdings in Lennar were worth $2,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC grew its position in Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after purchasing an additional 121 shares in the last quarter. J.Safra Asset Management Corp bought a new position in shares of Lennar during the 1st quarter valued at approximately $30,000. Redmont Wealth Advisors LLC bought a new position in shares of Lennar during the 1st quarter valued at approximately $35,000. Criterion Capital Advisors LLC bought a new position in shares of Lennar during the 4th quarter valued at approximately $36,000. Finally, Sunbelt Securities Inc. bought a new position in shares of Lennar during the 1st quarter valued at approximately $44,000. 81.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LEN. Argus upped their price target on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. BTIG Research dropped their price target 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. Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. lowered 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, Citigroup reiterated a “neutral” rating and issued a $164.00 target price (down from $174.00) on shares of Lennar in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $167.88.

Insider Activity at Lennar

In related news, EVP Jeffrey Joseph Mccall sold 10,000 shares of Lennar stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the completion of the transaction, the executive vice president now directly owns 128,629 shares of the company’s stock, valued at approximately $20,927,938.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Lennar news, VP Mark Sustana sold 9,176 shares of Lennar 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 completion of the transaction, the vice president now directly owns 16,768 shares of the company’s stock, valued at $2,764,707.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of Lennar stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the completion of the sale, the executive vice president now owns 128,629 shares of the company’s stock, valued at $20,927,938.30. The disclosure for this sale can be found here. Insiders sold a total of 29,176 shares of company stock valued at $4,841,039 in the last three months. Company insiders own 9.36% of the company’s stock.

Lennar Trading Down 1.0 %

Lennar stock traded down $1.82 during trading hours on Thursday, reaching $175.11. The stock had a trading volume of 981,195 shares, compared to its average volume of 2,149,173. The stock has a market cap of $48.09 billion, a PE ratio of 12.03, a PEG ratio of 1.64 and a beta of 1.60. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $182.53. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The company has a fifty day simple moving average of $157.12 and a 200-day simple moving average of $157.41.

Lennar (NYSE:LEN) last posted its earnings results on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, topping the consensus estimate of $3.20 by $0.18. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Analysts forecast that Lennar Co. will post 14.16 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a yield of 1.14%. Lennar’s dividend payout ratio (DPR) is currently 13.60%.

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.