Valley National Advisers Inc. Purchases New Position in Lennar Co. (NYSE:LEN)

Valley National Advisers Inc. acquired a new position in Lennar Co. (NYSE:LEN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,260 shares of the construction company’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI raised its position in Lennar by 3.7% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 7,217 shares of the construction company’s stock worth $283,000 after purchasing an additional 260 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Lennar by 5.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,797 shares of the construction company’s stock worth $344,000 after acquiring an additional 467 shares during the last quarter. CI Investments Inc. grew its holdings in Lennar by 188.5% in the 4th quarter. CI Investments Inc. now owns 756 shares of the construction company’s stock worth $30,000 after acquiring an additional 494 shares during the last quarter. Gateway Investment Advisers LLC grew its holdings in Lennar by 4.5% in the 4th quarter. Gateway Investment Advisers LLC now owns 12,397 shares of the construction company’s stock worth $485,000 after acquiring an additional 538 shares during the last quarter. Finally, Butensky & Cohen Financial Security Inc. grew its holdings in Lennar by 1.9% in the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 30,570 shares of the construction company’s stock worth $1,197,000 after acquiring an additional 575 shares during the last quarter. 84.86% of the stock is owned by institutional investors.

In other news, President Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $48.94, for a total value of $978,800.00. The sale was disclosed in a filing with the SEC, which is available at this link. 8.43% of the stock is owned by corporate insiders.

A number of equities research analysts have recently weighed in on LEN shares. BTIG Research lowered their price target on shares of Lennar to $65.00 and set a “positive” rating for the company in a research report on Thursday, March 28th. Royal Bank of Canada decreased their target price on shares of Lennar and set an “outperform” rating for the company in a report on Friday, January 11th. ValuEngine raised shares of Lennar from a “sell” rating to a “hold” rating in a report on Friday. Credit Suisse Group reissued a “hold” rating and set a $49.00 price objective on shares of Lennar in a report on Friday, February 15th. Finally, Zacks Investment Research raised shares of Lennar from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Lennar presently has an average rating of “Buy” and a consensus target price of $57.27.

Shares of LEN traded up $1.00 during mid-day trading on Friday, reaching $52.91. The stock had a trading volume of 2,888,687 shares, compared to its average volume of 4,231,977. The company has a debt-to-equity ratio of 0.62, a current ratio of 14.77 and a quick ratio of 0.84. Lennar Co. has a 12 month low of $37.29 and a 12 month high of $57.57. The firm has a market cap of $17.10 billion, a P/E ratio of 8.33, a PEG ratio of 0.70 and a beta of 1.32.

Lennar (NYSE:LEN) last issued its earnings results on Wednesday, March 27th. The construction company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). Lennar had a return on equity of 13.04% and a net margin of 8.39%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the company posted $1.11 EPS. Lennar’s revenue was up 29.8% compared to the same quarter last year. Equities analysts anticipate that Lennar Co. will post 5.42 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lennar’s payout ratio is 2.52%.

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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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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