Legacy Capital Wealth Partners LLC Buys New Position in Lennar Co. (NYSE:LEN)

Legacy Capital Wealth Partners LLC purchased a new position in shares of Lennar Co. (NYSE:LEN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,779 shares of the construction company’s stock, valued at approximately $265,000.

A number of other hedge funds have also recently modified their holdings of LEN. RFG Advisory LLC boosted its position in shares of Lennar by 2.1% during the 4th quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock valued at $573,000 after acquiring an additional 79 shares during the last quarter. Merit Financial Group LLC lifted its position in Lennar by 2.6% during the third quarter. Merit Financial Group LLC now owns 4,009 shares of the construction company’s stock valued at $450,000 after purchasing an additional 101 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Lennar by 4.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,810 shares of the construction company’s stock worth $315,000 after buying an additional 113 shares in the last quarter. Ieq Capital LLC increased its holdings in shares of Lennar by 7.0% in the 3rd quarter. Ieq Capital LLC now owns 1,808 shares of the construction company’s stock worth $203,000 after buying an additional 118 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its position in shares of Lennar by 4.2% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 2,991 shares of the construction company’s stock valued at $336,000 after buying an additional 120 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 0.8 %

LEN opened at $155.47 on Tuesday. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $172.59. The company has a market capitalization of $43.27 billion, a P/E ratio of 10.89, a PEG ratio of 1.44 and a beta of 1.53. The stock’s fifty day moving average is $159.68 and its two-hundred day moving average is $144.60. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.21 by $0.36. Lennar had a return on equity of 15.90% and a net margin of 11.59%. The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.39 billion. During the same quarter last year, the firm posted $2.12 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts forecast that Lennar Co. will post 14.46 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.29%. Lennar’s dividend payout ratio is presently 14.02%.

Insider Buying and Selling

In related news, Director Amy Banse purchased 1,575 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were acquired at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the acquisition, the director now owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.36% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LEN shares. Wedbush reissued an “underperform” rating and set a $144.00 price objective on shares of Lennar in a research note on Tuesday, April 2nd. UBS Group raised their price target on Lennar from $190.00 to $198.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. JMP Securities reiterated a “market outperform” rating and set a $170.00 price objective on shares of Lennar in a research report on Friday, March 15th. Wells Fargo & Company raised their target price on shares of Lennar from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, Barclays upped their price target on shares of Lennar from $173.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Three analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

About Lennar

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.