MCF Advisors LLC Reduces Stock Position in Lennar Co. (NYSE:LEN)

MCF Advisors LLC lowered its stake in shares of Lennar Co. (NYSE:LEN) by 75.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 376 shares of the construction company’s stock after selling 1,142 shares during the quarter. MCF Advisors LLC’s holdings in Lennar were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in shares of 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 purchasing an additional 366,983 shares during the last quarter. Pacer Advisors Inc. raised its stake in Lennar by 3.0% during the fourth quarter. Pacer Advisors Inc. now owns 2,681,233 shares of the construction company’s stock valued at $399,611,000 after buying an additional 79,217 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Lennar by 4.4% during the 4th quarter. Nordea Investment Management AB now owns 1,700,016 shares of the construction company’s stock worth $253,319,000 after buying an additional 72,146 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Lennar by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,550,371 shares of the construction company’s stock valued at $231,067,000 after acquiring an additional 8,008 shares during the last quarter. Finally, AQR Capital Management LLC raised its position 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 valued at $168,486,000 after acquiring an additional 484,056 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 0.5 %

Shares of LEN stock opened at $149.87 on Friday. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $156.22 and a 200 day simple moving average of $155.46. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $172.59. The stock has a market capitalization of $41.71 billion, a P/E ratio of 10.19, a P/E/G ratio of 1.35 and a beta of 1.56.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be issued a $0.50 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. Lennar’s payout ratio is currently 13.60%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group boosted their target price on shares of Lennar from $190.00 to $198.00 and gave the company a “buy” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. lowered their target price on Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Argus increased their price target on Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. 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. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a research note on Thursday, March 14th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Lennar presently has a consensus rating of “Hold” and a consensus target price of $167.31.

Insider Activity at Lennar

In other Lennar news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the company’s 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 transaction, the insider now owns 118,629 shares of the company’s stock, valued at $20,179,979.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Amy Banse bought 1,575 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were bought at an average cost of $157.00 per share, with a total value of $247,275.00. Following the purchase, the director now directly owns 11,859 shares in the company, valued at $1,861,863. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of Lennar stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total value of $1,701,100.00. Following the transaction, the insider now owns 118,629 shares in the company, valued at approximately $20,179,979.19. The disclosure for this sale can be found here. Insiders sold a total of 29,176 shares of company stock valued at $4,841,039 over the last ninety days. Insiders own 9.36% of the company’s stock.

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.