Prospera Private Wealth LLC Invests $131,000 in Lennar Co. (NYSE:LEN)

Prospera Private Wealth LLC acquired a new stake in Lennar Co. (NYSE:LEN) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 701 shares of the construction company’s stock, valued at approximately $131,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEN. Oakworth Capital Inc. bought a new position in Lennar during the 3rd quarter worth approximately $27,000. Wolff Wiese Magana LLC boosted its position in shares of Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Lennar in the 3rd quarter valued at $30,000. New Covenant Trust Company N.A. acquired a new stake in Lennar during the 1st quarter worth $32,000. Finally, Asset Dedication LLC grew its stake in Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after acquiring an additional 169 shares during the period. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LEN. Royal Bank of Canada increased their target price on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. increased their target price on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Evercore ISI decreased their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Finally, Bank of America increased their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Lennar has a consensus rating of “Hold” and a consensus target price of $180.56.

Insider Buying and Selling

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now directly owns 23,689 shares of the company’s stock, valued at $4,148,654.57. The trade was a 42.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.36% of the stock is owned by insiders.

Lennar Stock Down 0.1 %

Shares of LEN opened at $168.07 on Friday. The firm’s 50-day simple moving average is $178.41 and its 200 day simple moving average is $169.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The firm has a market cap of $45.59 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. Lennar Co. has a 52 week low of $125.17 and a 52 week high of $193.80.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The company had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.91 earnings per share. On average, analysts forecast that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

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.