Commonwealth Retirement Investments LLC Acquires 476 Shares of Lennar Co. (NYSE:LEN)

by · The Markets Daily

Commonwealth Retirement Investments LLC lifted its stake in Lennar Co. (NYSE:LEN – Free Report) by 8.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,227 shares of the construction company’s stock after buying an additional 476 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Lennar were worth $1,167,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Lennar by 56.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,965 shares of the construction company’s stock worth $1,198,000 after purchasing an additional 2,517 shares during the last quarter. Choate Investment Advisors bought a new position in shares of Lennar during the first quarter valued at about $223,000. Headlands Technologies LLC bought a new stake in shares of Lennar in the first quarter worth about $127,000. Bleakley Financial Group LLC increased its holdings in Lennar by 2.3% during the 1st quarter. Bleakley Financial Group LLC now owns 5,124 shares of the construction company’s stock valued at $881,000 after purchasing an additional 113 shares during the period. Finally, Foundry Partners LLC lifted its holdings in Lennar by 20.7% in the 1st quarter. Foundry Partners LLC now owns 106,719 shares of the construction company’s stock worth $18,354,000 after buying an additional 18,281 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction 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 sale, the director now owns 23,689 shares of the company’s stock, valued at $4,148,654.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 9.36% of the company’s stock.

Lennar Stock Down 2.4 %

Shares of Lennar stock traded down $4.21 on Tuesday, reaching $168.09. The company’s stock had a trading volume of 289,996 shares, compared to its average volume of 2,045,406. The company has a market capitalization of $45.59 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 1.61 and a beta of 1.62. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. Lennar Co. has a 52 week low of $120.50 and a 52 week high of $193.80. The firm’s fifty day simple moving average is $180.20 and its two-hundred day simple moving average is $168.59.

Lennar (NYSE:LEN – Get Free Report) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the previous year, the firm earned $3.91 EPS. Lennar’s revenue was up 7.9% on a year-over-year basis. Equities analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently declared 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 payout ratio is currently 13.25%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Bank of America upped their target price on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Keefe, Bruyette & Woods upped their price objective on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Wedbush reaffirmed a “neutral” rating and set a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. JPMorgan Chase & Co. raised their price objective on shares of Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, JMP Securities upped their target price on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $180.56.

Read Our Latest Report on LEN

Lennar Company Profile

(Free Report)

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.

Further Reading

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