HighPoint Advisor Group LLC Purchases Shares of 4,128 Lennar Co. (NYSE:LEN)

HighPoint Advisor Group LLC purchased a new stake in Lennar Co. (NYSE:LEN) during the 4th quarter, Holdings Channel.com reports. The fund purchased 4,128 shares of the construction company’s stock, valued at approximately $615,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LEN. Raleigh Capital Management Inc. bought a new stake in Lennar in the 3rd quarter valued at $28,000. Criterion Capital Advisors LLC bought a new stake in Lennar in the 4th quarter valued at $36,000. Accent Capital Management LLC bought a new stake in Lennar in the 4th quarter valued at $54,000. Itau Unibanco Holding S.A. increased its holdings in Lennar by 34.3% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 497 shares of the construction company’s stock valued at $56,000 after buying an additional 127 shares during the period. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Lennar in the 4th quarter valued at $69,000. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of NYSE:LEN opened at $148.76 on Wednesday. The stock has a market capitalization of $41.41 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.46 and a beta of 1.56. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $172.59. The company has a current ratio of 5.47, a quick ratio of 1.27 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $157.06 and a two-hundred day moving average price of $154.86.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.34%. Lennar’s dividend payout ratio is currently 13.60%.

Insiders Place Their Bets

In other news, Director Amy Banse acquired 1,575 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was purchased at an average cost of $157.00 per share, with a total value of $247,275.00. Following the acquisition, the director now owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 128,629 shares of the company’s stock, valued at approximately $20,927,938.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy Banse acquired 1,575 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was acquired at an average price of $157.00 per share, with a total value of $247,275.00. Following the completion of the transaction, the director now directly owns 11,859 shares in the company, valued at approximately $1,861,863. The disclosure for this purchase can be found here. In the last three months, insiders sold 29,176 shares of company stock valued at $4,841,039. 9.36% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays boosted their target price on shares of Lennar from $173.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Wells Fargo & Company boosted their target price on shares of Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. reduced their target price on shares of Lennar from $161.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $183.00 target price on shares of Lennar in a research note on Tuesday. Finally, JMP Securities restated a “market outperform” rating and issued a $170.00 target price on shares of Lennar in a research note on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lennar has an average rating of “Hold” and a consensus target price of $166.80.

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.