Summit Trail Advisors LLC Raises Stake in Lennar Co. (NYSE:LEN)

Summit Trail Advisors LLC raised its holdings in shares of Lennar Co. (NYSE:LEN) by 36.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,990 shares of the construction company’s stock after buying an additional 803 shares during the quarter. Summit Trail Advisors LLC’s holdings in Lennar were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Oakworth Capital Inc. purchased a new stake in Lennar in the third quarter valued at $27,000. Wolff Wiese Magana LLC boosted its stake in shares of Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after buying an additional 140 shares during the last quarter. GHP Investment Advisors Inc. purchased a new position in Lennar during the third quarter valued at approximately $30,000. New Covenant Trust Company N.A. acquired a new position in Lennar in the first quarter valued at approximately $32,000. Finally, Asset Dedication LLC grew its stake in shares of Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after purchasing an additional 169 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Performance

LEN opened at $173.35 on Wednesday. The firm has a market capitalization of $47.02 billion, a PE ratio of 11.48, a PEG ratio of 1.58 and a beta of 1.62. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. Lennar Co. has a twelve month low of $125.17 and a twelve month high of $193.80. The firm’s 50-day moving average price is $177.58 and its 200 day moving average price is $169.53.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.91 earnings per share. As a group, sell-side analysts expect that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. Lennar’s payout ratio is currently 13.25%.

Insider Buying and Selling at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the sale, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.36% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LEN shares. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Bank of America increased their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. JMP Securities lifted their price target on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. Royal Bank of Canada increased their price target on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company cut their price objective on Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $180.56.

About Lennar

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.