7,759 Lennar Corporation $LEN Shares Purchased by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. lifted its position in shares of Lennar Corporation (NYSE:LEN) by 9.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,067 shares of the construction company’s stock after acquiring an additional 7,759 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Lennar were worth $7,267,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC raised its stake in shares of Lennar by 77.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 89,178 shares of the construction company’s stock worth $8,070,000 after buying an additional 38,822 shares during the last quarter. Nykredit A S purchased a new stake in shares of Lennar in the 2nd quarter worth about $5,295,000. Nan Shan Life Insurance Co. Ltd. grew its stake in Lennar by 6,292.5% in the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 328,000 shares of the construction company’s stock valued at $29,681,000 after acquiring an additional 322,869 shares during the last quarter. Corient Private Wealth LP grew its stake in Lennar by 24.7% in the 2nd quarter. Corient Private Wealth LP now owns 82,261 shares of the construction company’s stock valued at $7,444,000 after acquiring an additional 16,299 shares during the last quarter. Finally, Vision Capital Management Inc. grew its stake in Lennar by 240.4% in the 3rd quarter. Vision Capital Management Inc. now owns 19,581 shares of the construction company’s stock valued at $1,598,000 after acquiring an additional 13,828 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LEN. Seaport Research Partners cut their target price on shares of Lennar from $74.00 to $70.00 and set a “sell” rating for the company in a research report on Monday, September 21st. Royal Bank Of Canada lowered their price target on shares of Lennar from $85.00 to $69.00 and set an “underperform” rating on the stock in a research report on Friday, September 18th. Truist Financial dropped their price objective on shares of Lennar from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Wednesday, September 16th. Keefe, Bruyette & Woods dropped their price objective on shares of Lennar from $85.00 to $75.00 and set an “underperform” rating for the company in a research note on Tuesday, September 22nd. Finally, Bank of America cut their price objective on Lennar from $77.00 to $70.00 and set an “underperform” rating for the company in a research report on Monday, September 14th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and eleven have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and an average target price of $79.00.

Lennar Price Performance

Lennar stock opened at $83.28 on Thursday. Lennar Corporation has a 1 year low of $71.78 and a 1 year high of $133.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 4.94. The firm has a 50 day moving average price of $81.10 and a 200 day moving average price of $91.93. The company has a market cap of $19.81 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 3.19 and a beta of 1.36.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Wednesday, September 16th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.06). Lennar had a net margin of 4.09% and a return on equity of 6.15%. The firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $8.32 billion. During the same period last year, the firm posted $2.00 EPS. Lennar’s revenue was down 8.7% on a year-over-year basis. Sell-side analysts predict that Lennar Corporation will post 4.88 earnings per share for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 22nd. Investors of record on Wednesday, October 7th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $2.00 annualized dividend and a yield of 2.4%. Lennar’s payout ratio is 37.81%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 1,708,095 shares of the stock in a transaction on Friday, October 2nd. The stock was bought at an average price of $79.44 per share, with a total value of $135,691,066.80. Following the completion of the transaction, the insider directly owned 28,438,045 shares of the company’s stock, valued at $2,259,118,294.80. The trade was a 6.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders purchased 7,502,276 shares of company stock valued at $595,303,287. 10.05% of the stock is owned by corporate insiders.

About Lennar

Lennar Corporation (NYSE:LEN) is a homebuilding and real estate company that develops, constructs, and sells primarily single-family homes. The company offers homes across a range of price points and designs, including residences for first-time, move-up, luxury, and active-adult buyers. Its operations also include land acquisition and development, allowing Lennar to prepare communities and lots for residential construction.

In addition to homebuilding, Lennar develops multifamily rental properties and provides related financial services.