1,939 Shares in Lennar Co. (NYSE:LEN) Bought by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC acquired a new stake in shares of Lennar Co. (NYSE:LEN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,939 shares of the construction company’s stock, valued at approximately $289,000.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake in Lennar by 35.3% in the third quarter. Fifth Third Bancorp now owns 9,945 shares of the construction company’s stock worth $1,116,000 after purchasing an additional 2,595 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Lennar by 35.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 250,586 shares of the construction company’s stock worth $28,123,000 after acquiring an additional 65,389 shares during the last quarter. Wealthfront Advisers LLC grew its position in Lennar by 2.6% in the 3rd quarter. Wealthfront Advisers LLC now owns 41,673 shares of the construction company’s stock valued at $4,677,000 after acquiring an additional 1,048 shares during the last quarter. New Mexico Educational Retirement Board increased its stake in Lennar by 6.5% in the third quarter. New Mexico Educational Retirement Board now owns 13,160 shares of the construction company’s stock worth $1,477,000 after purchasing an additional 800 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of Lennar by 6.0% during the third quarter. Daiwa Securities Group Inc. now owns 20,999 shares of the construction company’s stock worth $2,357,000 after purchasing an additional 1,184 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling

In related news, Director Amy Banse acquired 1,575 shares of the stock in a transaction on Wednesday, April 10th. The shares were acquired at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the transaction, the director now owns 11,859 shares in the company, valued at approximately $1,861,863. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the transaction, the executive vice president now owns 128,629 shares in the company, valued at approximately $20,927,938.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Amy Banse bought 1,575 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were acquired at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the transaction, the director now directly owns 11,859 shares in the company, valued at $1,861,863. The disclosure for this purchase can be found here. 9.36% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LEN shares. Citigroup boosted their target price on shares of Lennar from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Wells Fargo & Company boosted their target price on shares of Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Oppenheimer reissued a “market perform” rating on shares of Lennar in a research note on Friday, March 15th. Evercore ISI upped their price objective on shares of Lennar from $224.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Finally, UBS Group upped their price objective on shares of Lennar from $190.00 to $198.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Three equities 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.88.

Lennar Stock Performance

LEN opened at $168.56 on Thursday. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $172.59. 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 company has a market cap of $46.92 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.55. The firm’s 50-day moving average price is $160.53 and its 200-day moving average price is $148.85.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share 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 company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.39 billion. During the same quarter in the prior year, the company earned $2.12 EPS. Lennar’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities analysts anticipate that Lennar Co. will post 14.46 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were issued a $0.50 dividend. The ex-dividend date was Tuesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.19%. Lennar’s dividend payout ratio (DPR) is presently 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.