Denali Advisors LLC Sells 902 Shares of Lennar Co. (NYSE:LEN)

Denali Advisors LLC lessened its holdings in Lennar Co. (NYSE:LEN) by 14.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,427 shares of the construction company’s stock after selling 902 shares during the quarter. Denali Advisors LLC’s holdings in Lennar were worth $933,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Valeo Financial Advisors LLC boosted its stake in shares of Lennar by 0.9% in the 1st quarter. Valeo Financial Advisors LLC now owns 9,431 shares of the construction company’s stock valued at $1,622,000 after purchasing an additional 88 shares in the last quarter. Measured Wealth Private Client Group LLC lifted its position in Lennar by 3.5% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 3,682 shares of the construction company’s stock worth $633,000 after buying an additional 124 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its position in Lennar by 51.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 271 shares of the construction company’s stock worth $47,000 after buying an additional 92 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in Lennar during the 1st quarter worth about $2,041,000. Finally, Cornerstone Wealth Group LLC acquired a new position in Lennar during the 1st quarter worth about $532,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

LEN has been the topic of several research reports. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Raymond James downgraded shares of Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a research report on Thursday, March 14th. Argus upped their price target on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Oppenheimer reissued a “market perform” rating on shares of Lennar in a report on Friday, March 15th. Three analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $166.69.

Lennar Price Performance

Shares of NYSE LEN traded down $0.33 during mid-day trading on Wednesday, reaching $143.28. The company had a trading volume of 1,116,329 shares, compared to its average volume of 2,099,375. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. Lennar Co. has a one year low of $102.90 and a one year high of $172.59. The firm has a market cap of $39.88 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 1.35 and a beta of 1.60. The business’s 50-day simple moving average is $155.87 and its 200 day simple moving average is $155.43.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, July 5th. Lennar’s dividend payout ratio is presently 13.60%.

Insider Buying and Selling at Lennar

In other Lennar news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of Lennar stock in a transaction dated 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 transaction, the insider now owns 118,629 shares in the company, valued at $20,179,979.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Mark Sustana sold 9,176 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the transaction, the vice president now owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 118,629 shares in the company, valued at approximately $20,179,979.19. The disclosure for this sale can be found here. Insiders have sold a total of 29,176 shares of company stock worth $4,841,039 over the last 90 days. Insiders own 9.36% of the company’s stock.

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.