DNB Asset Management AS Purchases 3,167 Shares of Lennar Co. (NYSE:LEN)

DNB Asset Management AS grew its position in shares of Lennar Co. (NYSE:LEN) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,324 shares of the construction company’s stock after buying an additional 3,167 shares during the quarter. DNB Asset Management AS’s holdings in Lennar were worth $6,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin Edwards Inc. lifted its holdings in shares of Lennar by 7.2% during the 4th quarter. Benjamin Edwards Inc. now owns 1,027 shares of the construction company’s stock valued at $153,000 after buying an additional 69 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Lennar by 1.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock worth $663,000 after purchasing an additional 70 shares during the period. Nilsine Partners LLC raised its holdings in Lennar by 1.7% in the 1st quarter. Nilsine Partners LLC now owns 4,554 shares of the construction company’s stock worth $783,000 after purchasing an additional 75 shares during the period. Savant Capital LLC raised its holdings in Lennar by 0.9% in the 4th quarter. Savant Capital LLC now owns 8,361 shares of the construction company’s stock worth $1,246,000 after purchasing an additional 78 shares during the period. Finally, RFG Advisory LLC raised its holdings in Lennar by 2.1% in the 4th quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock worth $573,000 after purchasing an additional 79 shares during the period. 81.10% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LEN shares. Citigroup reaffirmed a “neutral” rating and issued a $164.00 target price (down from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. BTIG Research decreased their price target on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and decreased their price target for the company from $180.00 to $174.00 in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased their price target on Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Finally, Argus raised their price target on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Lennar has an average rating of “Hold” and a consensus price target of $169.13.

Lennar Trading Up 0.9 %

LEN traded up $1.61 on Tuesday, hitting $172.00. The company had a trading volume of 1,909,211 shares, compared to its average volume of 2,163,484. The company has a market cap of $47.23 billion, a PE ratio of 11.78, a PEG ratio of 1.60 and a beta of 1.60. Lennar Co. has a 12-month low of $102.90 and a 12-month high of $182.53. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The business’s fifty day simple moving average is $158.20 and its 200 day simple moving average is $157.94.

Lennar (NYSE:LEN) last released its quarterly 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. The company had revenue of $8.77 billion during 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%. Equities research analysts expect that Lennar Co. will post 14.16 EPS for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 annualized dividend and a yield of 1.16%. Lennar’s dividend payout ratio is currently 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.