Axxcess Wealth Management LLC Purchases New Position in Lennar Co. (NYSE:LEN)

Axxcess Wealth Management LLC purchased a new stake in shares of Lennar Co. (NYSE:LEN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,285 shares of the construction company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC bought a new stake in shares of Lennar in the 4th quarter valued at approximately $276,000. Ritholtz Wealth Management lifted its stake in shares of Lennar by 48.3% in the 4th quarter. Ritholtz Wealth Management now owns 7,016 shares of the construction company’s stock valued at $1,046,000 after purchasing an additional 2,285 shares during the last quarter. Unison Advisors LLC lifted its stake in shares of Lennar by 0.3% in the 4th quarter. Unison Advisors LLC now owns 36,561 shares of the construction company’s stock valued at $5,449,000 after purchasing an additional 123 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Lennar by 4.2% in the 4th quarter. Fifth Third Bancorp now owns 10,358 shares of the construction company’s stock valued at $1,544,000 after purchasing an additional 413 shares during the last quarter. Finally, Osborne Partners Capital Management LLC bought a new stake in shares of Lennar in the 4th quarter valued at approximately $256,000. 81.10% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of Lennar stock in a transaction on Friday, May 10th. The stock was sold at an average price of $162.70, for a total value of $1,627,000.00. Following the transaction, the executive vice president now directly owns 128,629 shares in the company, valued at approximately $20,927,938.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the business’s stock in a transaction 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 directly owns 128,629 shares in the company, valued at approximately $20,927,938.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Mark Sustana sold 9,176 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $164.88, for a total value of $1,512,938.88. Following the transaction, the vice president now owns 16,768 shares in the company, valued at $2,764,707.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,176 shares of company stock worth $4,841,039. 9.36% of the stock is currently owned by company insiders.

Lennar Trading Up 3.2 %

LEN opened at $176.71 on Friday. The stock’s fifty day moving average is $156.05 and its two-hundred day moving average is $156.88. The company has a market capitalization of $48.52 billion, a P/E ratio of 12.01, a PEG ratio of 1.60 and a beta of 1.60. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $178.75. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.18. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.57 billion. Analysts forecast that Lennar Co. will post 14.16 earnings per share for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.13%. Lennar’s dividend payout ratio is presently 13.60%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $183.00 price objective on shares of Lennar in a research note on Tuesday, June 18th. Wedbush raised Lennar from an “underperform” rating to a “neutral” rating and set a $144.00 price target for the company in a research note on Tuesday, July 9th. Evercore ISI raised their price target on Lennar from $237.00 to $240.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. decreased their price target on Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Finally, Argus raised their price target on Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Lennar presently has a consensus rating of “Hold” and a consensus target price of $167.88.

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.