Wealth Enhancement Advisory Services LLC Boosts Holdings in Lennar Co. (NYSE:LEN)

Wealth Enhancement Advisory Services LLC raised its holdings in Lennar Co. (NYSE:LEN) by 2.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 201,644 shares of the construction company’s stock after acquiring an additional 4,875 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.07% of Lennar worth $34,679,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in shares of Lennar by 6,297.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company’s stock worth $98,706,000 after buying an additional 651,924 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Lennar by 47.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,501,257 shares of the construction company’s stock worth $168,486,000 after purchasing an additional 484,056 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Lennar by 5.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock worth $734,477,000 after acquiring an additional 366,983 shares during the period. Jennison Associates LLC boosted its holdings in Lennar by 97.4% in the 4th quarter. Jennison Associates LLC now owns 354,711 shares of the construction company’s stock worth $52,866,000 after acquiring an additional 174,981 shares during the period. Finally, Akaris Global Partners LP purchased a new position in Lennar in the 3rd quarter worth approximately $15,016,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Price Performance

Shares of Lennar stock traded up $0.18 during midday trading on Thursday, hitting $149.12. 1,796,280 shares of the company were exchanged, compared to its average volume of 2,095,800. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The firm has a market cap of $41.51 billion, a P/E ratio of 10.13, a PEG ratio of 1.34 and a beta of 1.56. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $172.59. The firm has a 50 day simple moving average of $156.30 and a 200-day simple moving average of $155.33.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Insider Buying and Selling

In other news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of Lennar stock in a transaction on 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 completion of the sale, the insider now directly owns 118,629 shares of the company’s stock, valued at approximately $20,179,979.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Lennar news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 118,629 shares of the company’s stock, valued at $20,179,979.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Amy Banse bought 1,575 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were bought at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the acquisition, the director now directly owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The disclosure for this purchase can be found here. Insiders sold 29,176 shares of company stock worth $4,841,039 in the last 90 days. 9.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LEN shares. Royal Bank of Canada reissued an “underperform” rating and set a $145.00 price target on shares of Lennar in a research report on Thursday, June 20th. Wells Fargo & Company upped their price objective on Lennar from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Citigroup lowered their price objective on Lennar from $198.00 to $174.00 and set a “buy” rating for the company in a research note on Friday, June 21st. BTIG Research lowered their price objective on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Lennar from $110.00 to $122.00 and gave the stock a “sell” rating in a research note on Thursday, March 14th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lennar has an average rating of “Hold” and an average target price of $167.31.

About Lennar

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.