Summit Trail Advisors LLC Purchases 803 Shares of Lennar Co. (NYSE:LEN)

Summit Trail Advisors LLC raised its position in shares of Lennar Co. (NYSE:LEN) by 36.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Oakworth Capital Inc. bought a new stake in Lennar in the third quarter worth $27,000. Wolff Wiese Magana LLC increased its holdings in shares of Lennar by 933.3% in the 3rd 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 stake in shares of Lennar during the 3rd quarter valued at about $30,000. Asset Dedication LLC grew its position in Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after acquiring an additional 169 shares in the last quarter. Finally, DT Investment Partners LLC increased its stake in Lennar by 523.3% during the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LEN. Evercore ISI dropped their target price on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. JMP Securities raised their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Barclays upped their price target on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company dropped their target price 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 investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Lennar has an average rating of “Hold” and a consensus price target of $180.56.

Lennar Trading Down 3.0 %

Shares of NYSE:LEN opened at $173.35 on Wednesday. Lennar Co. has a 12-month low of $125.17 and a 12-month high of $193.80. The business’s fifty day simple moving average is $177.58 and its 200-day simple moving average is $169.53. The company has a market capitalization of $47.02 billion, a PE ratio of 11.48, a P/E/G 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 (NYSE:LEN) last released its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same period last year, the business earned $3.91 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts predict that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced 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. This represents a $2.00 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.25%.

Insider Buying and Selling at Lennar

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

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.