Prospera Private Wealth LLC Makes New $131,000 Investment in Lennar Co. (NYSE:LEN)

Prospera Private Wealth LLC purchased a new stake in Lennar Co. (NYSE:LEN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 701 shares of the construction company’s stock, valued at approximately $131,000.

Other hedge funds also recently made changes to their positions in the company. Oakworth Capital Inc. acquired a new stake in Lennar during the 3rd quarter valued at approximately $27,000. Wolff Wiese Magana LLC increased its position in shares of Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after buying an additional 140 shares during the period. GHP Investment Advisors Inc. bought a new position in Lennar during the third quarter worth $30,000. New Covenant Trust Company N.A. acquired a new position in Lennar in the first quarter valued at $32,000. Finally, Asset Dedication LLC grew its holdings in Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after acquiring an additional 169 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Insider Transactions at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the transaction, the director now directly owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This represents a 42.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on LEN shares. JMP Securities upped their target price on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. increased their price target on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Citigroup lifted their price objective on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Bank Of America (Bofa) raised their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $180.56.

Lennar Stock Performance

NYSE LEN opened at $168.07 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The company has a fifty day moving average price of $178.41 and a 200-day moving average price of $169.14. Lennar Co. has a 1 year low of $125.17 and a 1 year high of $193.80. The firm has a market cap of $45.59 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.58 and a beta of 1.62.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.91 EPS. As a group, equities research analysts predict that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio is presently 13.25%.

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.