39,337 Shares in Lennar Co. (NYSE:LEN) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new position in Lennar Co. (NYSE:LEN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 39,337 shares of the construction company’s stock, valued at approximately $6,069,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC increased 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 purchasing an additional 121 shares during the period. J.Safra Asset Management Corp bought a new position in Lennar in the 1st quarter worth approximately $30,000. New Covenant Trust Company N.A. acquired a new position in shares of Lennar during the first quarter worth approximately $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar in the first quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC grew its stake in shares of Lennar by 223.6% in the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after acquiring an additional 161 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the subject of a number of research reports. BTIG Research reduced their price target on shares of Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, June 20th. Bank Of America (Bofa) increased their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Bank of America boosted their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Royal Bank of Canada raised their price objective on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research report on Monday, September 23rd. Finally, Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $181.94.

Lennar Trading Down 2.5 %

LEN stock opened at $182.25 on Friday. The business has a fifty day moving average price of $179.65 and a 200 day moving average price of $165.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The stock has a market capitalization of $50.05 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.71 and a beta of 1.61. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $193.80.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.91 EPS. Analysts expect that Lennar Co. will post 14.13 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.10%. The ex-dividend date is Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

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.