Norden Group LLC Invests $5.59 Million in Lennar Co. (NYSE:LEN)

Norden Group LLC bought a new stake in Lennar Co. (NYSE:LEN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,515 shares of the construction company’s stock, valued at approximately $5,592,000.

Several other hedge funds have also recently bought and sold shares of the business. Rise Advisors LLC lifted its stake in shares of Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after buying an additional 121 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Lennar in the first quarter valued at about $35,000. Criterion Capital Advisors LLC bought a new position in shares of Lennar in the fourth quarter worth about $36,000. Raleigh Capital Management Inc. acquired a new position in shares of Lennar during the 3rd quarter worth about $28,000. Finally, Sunbelt Securities Inc. bought a new stake in Lennar during the 1st quarter valued at approximately $44,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lennar

In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the firm’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 transaction, the insider now owns 118,629 shares in the company, valued at $20,179,979.19. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the firm’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 directly owns 118,629 shares in the company, valued at approximately $20,179,979.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Sustana sold 9,176 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the completion of the sale, 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. Insiders sold a total of 29,176 shares of company stock worth $4,841,039 over the last 90 days. 9.36% of the stock is owned by insiders.

Lennar Price Performance

Shares of LEN stock opened at $143.28 on Friday. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $39.88 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.29 and a beta of 1.60. The firm’s 50 day moving average is $155.65 and its 200-day moving average is $155.35. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $172.59.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be given a $0.50 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a yield of 1.40%. Lennar’s payout ratio is 13.60%.

Analysts Set New Price Targets

Several research analysts have commented on LEN shares. Wedbush reaffirmed an “underperform” rating and issued a $144.00 price target on shares of Lennar in a research report on Tuesday, June 18th. Barclays upped 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. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $183.00 price target on shares of Lennar in a research report on Tuesday, June 18th. Evercore ISI cut their price objective on shares of Lennar from $238.00 to $237.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Finally, Argus lifted their target price on Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $166.69.

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.