TrimTabs Asset Management LLC cut its position in shares of Lennar Co. (NYSE:LEN) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,246 shares of the construction company’s stock after selling 2,035 shares during the period. Lennar comprises about 1.1% of TrimTabs Asset Management LLC’s investment portfolio, making the stock its 19th largest position. TrimTabs Asset Management LLC’s holdings in Lennar were worth $2,082,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LEN. Childress Capital Advisors LLC bought a new stake in Lennar in the fourth quarter valued at $30,000. Lenox Wealth Advisors LLC grew its position in Lennar by 132.1% in the fourth quarter. Lenox Wealth Advisors LLC now owns 434 shares of the construction company’s stock valued at $33,000 after acquiring an additional 247 shares during the period. Heritage Wealth Advisors grew its position in Lennar by 57.1% in the fourth quarter. Heritage Wealth Advisors now owns 550 shares of the construction company’s stock valued at $42,000 after acquiring an additional 200 shares during the period. Key Financial Inc bought a new stake in Lennar in the fourth quarter valued at $46,000. Finally, McCarthy Asset Management Inc. bought a new stake in Lennar in the fourth quarter valued at $48,000. Institutional investors and hedge funds own 81.46% of the company’s stock.
NYSE:LEN traded down $1.03 during mid-day trading on Thursday, hitting $102.36. The company had a trading volume of 18,048 shares, compared to its average volume of 2,896,549. Lennar Co. has a fifty-two week low of $38.51 and a fifty-two week high of $106.24. The business’s fifty day moving average is $92.00 and its two-hundred day moving average is $82.40. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.73 and a current ratio of 11.44. The firm has a market cap of $32.01 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.04 and a beta of 1.56.
Lennar (NYSE:LEN) last released its earnings results on Monday, March 15th. The construction company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.33. Lennar had a return on equity of 14.17% and a net margin of 10.96%. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same quarter in the prior year, the firm posted $1.27 earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. Equities analysts forecast that Lennar Co. will post 8.5 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 12th. Shareholders of record on Friday, January 29th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, January 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.98%. Lennar’s dividend payout ratio (DPR) is currently 12.99%.
A number of brokerages have weighed in on LEN. JMP Securities upped their price target on Lennar from $90.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, March 24th. Keefe, Bruyette & Woods boosted their price objective on Lennar from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, December 17th. Raymond James boosted their price objective on Lennar from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 24th. Credit Suisse Group boosted their price objective on Lennar from $90.00 to $107.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 24th. Finally, Argus boosted their price objective on Lennar from $88.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, December 21st. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $95.00.
In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $102.46, for a total value of $1,024,600.00. Following the completion of the sale, the executive vice president now directly owns 167,909 shares in the company, valued at $17,203,956.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Diane J. Bessette sold 10,036 shares of the stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $100.85, for a total value of $1,012,130.60. Following the completion of the sale, the chief financial officer now owns 245,993 shares of the company’s stock, valued at $24,808,394.05. The disclosure for this sale can be found here. Insiders sold 30,036 shares of company stock valued at $2,838,931 over the last 90 days. Corporate insiders own 8.60% of the company’s stock.
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.
Further Reading: Beta
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