Redwood Investment Management LLC Invests $1.55 Million in Lennar Co. (NYSE:LEN)

Redwood Investment Management LLC purchased a new position in Lennar Co. (NYSE:LEN) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,988 shares of the construction company’s stock, valued at approximately $1,546,000.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC grew its position in 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 acquiring an additional 121 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in Lennar in the first quarter worth $30,000. Redmont Wealth Advisors LLC purchased a new position in Lennar in the first quarter worth $35,000. Criterion Capital Advisors LLC purchased a new position in Lennar in the fourth quarter worth $36,000. Finally, Sunbelt Securities Inc. purchased a new position in Lennar in the first quarter worth $44,000. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LEN shares. BTIG Research cut their price target on shares of Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Royal Bank of Canada restated an “underperform” rating and set a $145.00 price target on shares of Lennar in a research report on Thursday, June 20th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $183.00 price target on shares of Lennar in a research report on Tuesday, June 18th. The Goldman Sachs Group lowered shares of Lennar from a “buy” rating to a “neutral” rating and cut their price target for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $170.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Lennar has an average rating of “Hold” and an average target price of $167.88.

Insider Activity

In other news, 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 sale, the vice president now owns 16,768 shares in the company, valued at $2,764,707.84. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, VP Mark Sustana sold 9,176 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $164.88, for a total value of $1,512,938.88. Following the sale, the vice president now owns 16,768 shares in the company, valued at $2,764,707.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the completion of the sale, 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 have 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 currently owned by insiders.

Lennar Stock Down 2.0 %

Shares of NYSE LEN traded down $3.52 on Wednesday, reaching $176.93. 3,028,922 shares of the company’s stock traded hands, compared to its average volume of 2,157,172. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $182.53. The business’s 50 day simple moving average is $157.12 and its two-hundred day simple moving average is $157.41. The company has a market cap of $48.58 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 1.61 and a beta of 1.60. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.18. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.57 billion. As a group, equities research analysts forecast that Lennar Co. will post 14.16 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Friday, July 5th. Lennar’s payout ratio is 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.