Essex Savings Bank Buys New Shares in Lennar Co. (NYSE:LEN)

Essex Savings Bank purchased a new stake in Lennar Co. (NYSE:LENFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,000 shares of the construction company’s stock, valued at approximately $298,000.

Several other institutional investors have also recently made changes to their positions in LEN. Raymond James Trust N.A. grew its stake in shares of Lennar by 2.3% in the second quarter. Raymond James Trust N.A. now owns 4,144 shares of the construction company’s stock valued at $520,000 after buying an additional 93 shares in the last quarter. Merit Financial Group LLC increased its stake in shares of Lennar by 2.6% during the 3rd quarter. Merit Financial Group LLC now owns 4,009 shares of the construction company’s stock worth $450,000 after purchasing an additional 101 shares during the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of Lennar by 10.6% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 1,100 shares of the construction company’s stock valued at $123,000 after purchasing an additional 105 shares during the period. Unison Advisors LLC lifted its stake in Lennar by 0.3% in the 3rd quarter. Unison Advisors LLC now owns 36,438 shares of the construction company’s stock valued at $4,089,000 after purchasing an additional 107 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in Lennar by 4.2% during the third quarter. Verdence Capital Advisors LLC now owns 2,810 shares of the construction company’s stock worth $315,000 after purchasing an additional 113 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Oppenheimer reissued a “market perform” rating on shares of Lennar in a report on Friday, March 15th. The Goldman Sachs Group raised their price objective on shares of Lennar from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Royal Bank of Canada decreased their target price on Lennar from $137.00 to $136.00 and set an “underweight” rating on the stock in a research report on Thursday, March 14th. Keefe, Bruyette & Woods upped their price objective on Lennar from $175.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $161.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.69.

View Our Latest Stock Analysis on Lennar

Lennar Trading Down 3.4 %

LEN stock traded down $5.75 during mid-day trading on Tuesday, reaching $162.06. The company’s stock had a trading volume of 838,902 shares, compared to its average volume of 2,065,175. The company has a market cap of $45.51 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 2.29 and a beta of 1.53. Lennar Co. has a 12 month low of $100.95 and a 12 month high of $172.59. The business’s 50 day moving average price is $156.97 and its 200 day moving average price is $137.89. The company has a current ratio of 5.47, a quick ratio of 1.27 and a debt-to-equity ratio of 0.11.

Lennar (NYSE:LENGet Free Report) last issued its earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.36. Lennar had a net margin of 11.59% and a return on equity of 15.90%. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.39 billion. During the same period in the prior year, the firm earned $2.12 earnings per share. Lennar’s revenue was up 12.7% on a year-over-year basis. On average, equities research analysts predict that Lennar Co. will post 14.24 EPS for the current year.

Lennar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. This is a positive change from Lennar’s previous quarterly dividend of $0.38. The ex-dividend date was Tuesday, January 23rd. Lennar’s dividend payout ratio is presently 14.02%.

About Lennar

(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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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