Summit Financial LLC Invests $240,000 in Lennar Co. (NYSE:LEN)

Summit Financial LLC bought a new position in Lennar Co. (NYSE:LEN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,609 shares of the construction company’s stock, valued at approximately $240,000.

Several other institutional investors also recently bought and sold shares of the business. Global Wealth Management Investment Advisory Inc. lifted its position in Lennar by 4.7% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 12,251 shares of the construction company’s stock worth $1,826,000 after buying an additional 546 shares during the period. Savant Capital LLC raised its position in shares of Lennar by 0.9% in the 4th quarter. Savant Capital LLC now owns 8,361 shares of the construction company’s stock worth $1,246,000 after buying an additional 78 shares during the period. Van ECK Associates Corp grew its position in Lennar by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 38,044 shares of the construction company’s stock valued at $5,670,000 after acquiring an additional 418 shares during the period. Gilbert & Cook Inc. increased its stake in Lennar by 5.5% during the fourth quarter. Gilbert & Cook Inc. now owns 4,053 shares of the construction company’s stock worth $604,000 after acquiring an additional 211 shares during the last quarter. Finally, Eagle Wealth Strategies LLC purchased a new position in shares of Lennar in the 4th quarter worth about $671,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LEN has been the subject of a number of research analyst reports. UBS Group increased their target price on shares of Lennar from $190.00 to $198.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Citigroup lifted their target price on shares of Lennar from $179.00 to $198.00 and gave the company a “buy” rating in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft increased their price target on Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a report on Thursday, March 14th. Oppenheimer restated a “market perform” rating on shares of Lennar in a research note on Friday, March 15th. Finally, Wells Fargo & Company raised their target price on Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Insider Activity at Lennar

In other news, Director Amy Banse bought 1,575 shares of Lennar stock in a transaction on Wednesday, April 10th. The stock was purchased at an average cost of $157.00 per share, with a total value of $247,275.00. Following the purchase, the director now directly owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 9.36% of the company’s stock.

Lennar Stock Up 1.9 %

Shares of Lennar stock opened at $158.10 on Friday. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $159.74 and a 200 day moving average price of $145.02. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $172.59. The firm has a market cap of $44.01 billion, a P/E ratio of 11.08, a P/E/G ratio of 1.45 and a beta of 1.55.

Lennar (NYSE:LEN) last announced its quarterly earnings data 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 return on equity of 15.90% and a net margin of 11.59%. The firm had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same period last year, the business posted $2.12 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, sell-side analysts forecast that Lennar Co. will post 14.46 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lennar’s payout ratio is 14.02%.

Lennar 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.