Rockport Wealth LLC Purchases New Stake in Lennar Co. (NYSE:LEN)

Rockport Wealth LLC purchased a new stake in Lennar Co. (NYSE:LEN) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,975 shares of the construction company’s stock, valued at approximately $512,000.

A number of other large investors have also added to or reduced their stakes in the business. Integrated Advisors Network LLC grew its holdings in Lennar by 177.3% in the 4th quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock valued at $4,659,000 after buying an additional 19,985 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its stake in Lennar by 331.8% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock valued at $2,069,000 after buying an additional 9,246 shares in the last quarter. Grayhawk Investment Strategies Inc. acquired a new stake in Lennar in the fourth quarter valued at about $838,000. Coastline Trust Co boosted its stake in Lennar by 80.8% in the fourth quarter. Coastline Trust Co now owns 24,515 shares of the construction company’s stock valued at $3,654,000 after buying an additional 10,957 shares in the last quarter. Finally, Norden Group LLC acquired a new stake in Lennar in the first quarter valued at about $5,592,000. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 0.1 %

Shares of LEN traded up $0.15 during mid-day trading on Tuesday, reaching $172.65. 1,783,805 shares of the company were exchanged, compared to its average volume of 2,146,298. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $177.79. 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 stock has a market capitalization of $47.41 billion, a PE ratio of 11.73, a PEG ratio of 1.54 and a beta of 1.60. The business has a 50 day simple moving average of $155.55 and a two-hundred day simple moving average of $156.25.

Lennar (NYSE:LEN) last released its earnings results on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, topping the consensus estimate of $3.20 by $0.18. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.57 billion. On average, analysts predict that Lennar Co. will post 14.24 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, July 5th. This represents a $2.00 annualized dividend and a yield of 1.16%. Lennar’s dividend payout ratio is currently 13.60%.

Insider Buying and Selling

In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the completion of the sale, the insider now owns 118,629 shares of the company’s stock, valued at $20,179,979.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lennar news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total value of $1,701,100.00. Following the completion of the sale, the insider now owns 118,629 shares of the company’s stock, valued at $20,179,979.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark Sustana sold 9,176 shares of the firm’s 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 sale, the vice president now directly owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The disclosure for this sale can be found here. Insiders sold 29,176 shares of company stock valued at $4,841,039 over the last 90 days. Company insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LEN shares. JMP Securities reaffirmed a “market outperform” rating and issued a $170.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Evercore ISI raised their price objective on Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Argus raised their price objective on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. dropped their target price on Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Finally, Raymond James downgraded Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Lennar currently has a consensus rating of “Hold” and a consensus price target of $167.88.

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.