Creative Planning Lowers Holdings in Lennar Co. (NYSE:LEN)

Creative Planning trimmed its holdings in Lennar Co. (NYSE:LEN) by 9.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,946 shares of the construction company’s stock after selling 488 shares during the period. Creative Planning’s holdings in Lennar were worth $276,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Boston Partners acquired a new position in Lennar during the third quarter worth $368,986,000. Hexavest Inc. acquired a new position in Lennar during the fourth quarter worth $41,152,000. Eagle Asset Management Inc. acquired a new position in Lennar during the third quarter worth $37,639,000. Owl Creek Asset Management L.P. acquired a new position in Lennar during the third quarter worth $32,164,000. Finally, Carillon Tower Advisers Inc. acquired a new position in Lennar during the third quarter worth $29,555,000. Institutional investors own 86.35% of the company’s stock.

In other Lennar news, Director Scott D. Stowell sold 300,000 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $67.20, for a total value of $20,160,000.00. Following the sale, the director now directly owns 201,978 shares in the company, valued at $13,572,921.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $56.06, for a total value of $1,121,200.00. Following the completion of the sale, the president now owns 237,047 shares in the company, valued at $13,288,854.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 360,000 shares of company stock worth $23,840,200. 8.43% of the stock is owned by insiders.

Lennar stock opened at $69.76 on Friday. Lennar Co. has a 1-year low of $44.84 and a 1-year high of $71.23. The company has a debt-to-equity ratio of 0.49, a current ratio of 14.37 and a quick ratio of 1.15. The stock has a market cap of $22.22 billion, a PE ratio of 12.11, a P/E/G ratio of 1.09 and a beta of 1.02. The stock’s fifty day moving average is $63.01 and its two-hundred day moving average is $57.58.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Wednesday, January 8th. The construction company reported $2.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.23. Lennar had a return on equity of 12.00% and a net margin of 8.31%. The company had revenue of $6.97 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same period last year, the firm earned $1.96 earnings per share. Lennar’s quarterly revenue was up 7.9% on a year-over-year basis. On average, research analysts expect that Lennar Co. will post 6.22 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 24th were paid a $0.125 dividend. The ex-dividend date was Thursday, January 23rd. This is a boost from Lennar’s previous quarterly dividend of $0.04. This represents a $0.50 dividend on an annualized basis and a yield of 0.72%. Lennar’s dividend payout ratio (DPR) is currently 8.71%.

LEN has been the topic of a number of research reports. Argus upped their price target on Lennar from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Wedbush reiterated a “buy” rating and issued a $72.00 price objective on shares of Lennar in a research note on Monday, December 30th. ValuEngine upgraded Lennar from a “strong sell” rating to a “sell” rating in a research note on Friday, January 10th. Royal Bank of Canada cut Lennar from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $63.00 to $62.00 in a research note on Tuesday, December 17th. Finally, Goldman Sachs Group began coverage on Lennar in a research note on Friday, December 6th. They issued a “buy” rating and a $71.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $61.94.

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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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