New England Research & Management Inc. Decreases Stock Holdings in Lennar Co. (NYSE:LEN)

New England Research & Management Inc. decreased its holdings in shares of Lennar Co. (NYSE:LEN) by 19.1% during the first quarter, Holdings Channel.com reports. The firm owned 13,475 shares of the construction company’s stock after selling 3,175 shares during the period. Lennar accounts for about 1.1% of New England Research & Management Inc.’s portfolio, making the stock its 25th largest position. New England Research & Management Inc.’s holdings in Lennar were worth $2,317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its stake in shares of Lennar by 5.9% in the third quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock valued at $734,477,000 after acquiring an additional 366,983 shares during the period. Pacer Advisors Inc. raised its stake in shares of Lennar by 3.0% in the fourth quarter. Pacer Advisors Inc. now owns 2,681,233 shares of the construction company’s stock valued at $399,611,000 after acquiring an additional 79,217 shares during the period. Nordea Investment Management AB raised its stake in shares of Lennar by 4.4% in the fourth quarter. Nordea Investment Management AB now owns 1,700,016 shares of the construction company’s stock valued at $253,319,000 after acquiring an additional 72,146 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Lennar by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,550,371 shares of the construction company’s stock valued at $231,067,000 after acquiring an additional 8,008 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Lennar by 47.6% in the third quarter. AQR Capital Management LLC now owns 1,501,257 shares of the construction company’s stock valued at $168,486,000 after acquiring an additional 484,056 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Activity

In related news, VP Mark Sustana sold 9,176 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $164.88, for a total value of $1,512,938.88. Following the completion of the transaction, the vice president now directly owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $162.70, for a total value of $1,627,000.00. Following the completion of the transaction, the executive vice president now directly owns 128,629 shares of the company’s stock, valued at approximately $20,927,938.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark Sustana sold 9,176 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the completion of the transaction, the vice president now directly owns 16,768 shares of the company’s stock, valued at $2,764,707.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,176 shares of company stock worth $4,841,039. Corporate insiders own 9.36% of the company’s stock.

Lennar Stock Up 0.5 %

NYSE:LEN opened at $149.87 on Friday. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $172.59. The stock has a market capitalization of $41.71 billion, a P/E ratio of 10.19, a P/E/G ratio of 1.34 and a beta of 1.56. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. The company’s 50-day simple moving average is $156.22 and its 200-day simple moving average is $155.36.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, July 5th. Lennar’s dividend payout ratio is currently 13.60%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Oppenheimer reissued a “market perform” rating on shares of Lennar in a research note on Friday, March 15th. Argus upped their price target on shares of Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. JMP Securities restated a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a report on Thursday, June 20th. Finally, BTIG Research cut their price target on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $167.31.

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.