Procyon Advisors LLC Acquires 136 Shares of Lennar Co. (NYSE:LEN)

Procyon Advisors LLC increased its holdings in shares of Lennar Co. (NYSE:LEN) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,549 shares of the construction company’s stock after buying an additional 136 shares during the quarter. Procyon Advisors LLC’s holdings in Lennar were worth $1,423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of LEN. Annis Gardner Whiting Capital Advisors LLC bought a new position in Lennar in the third quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new position in shares of Lennar during the third quarter worth about $28,000. BluePath Capital Management LLC bought a new position in shares of Lennar during the third quarter worth about $29,000. Coppell Advisory Solutions LLC bought a new position in shares of Lennar during the second quarter worth about $46,000. Finally, West Tower Group LLC bought a new position in shares of Lennar during the second quarter worth about $57,000. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Raymond James lifted their target price on Lennar from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, December 19th. Barclays lifted their target price on Lennar from $173.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Evercore ISI lifted their target price on Lennar from $224.00 to $238.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. UBS Group lifted their target price on Lennar from $190.00 to $198.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, Citigroup lifted their target price on Lennar from $170.00 to $179.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $162.69.

Lennar Stock Performance

LEN stock traded up $2.16 during midday trading on Thursday, hitting $170.66. The company’s stock had a trading volume of 140,520 shares, compared to its average volume of 2,058,951. The stock’s 50-day moving average price is $155.76 and its 200 day moving average price is $136.76. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11. Lennar Co. has a 1 year low of $100.95 and a 1 year high of $170.69. The stock has a market cap of $47.92 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.20 and a beta of 1.52.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, March 14th. The construction company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.36. Lennar had a return on equity of 15.90% and a net margin of 11.59%. The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same quarter in the previous year, the firm earned $2.12 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. On average, equities analysts forecast that Lennar Co. will post 14.24 EPS for the current year.

Lennar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, January 23rd. This is a positive change from Lennar’s previous quarterly dividend of $0.38. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. Lennar’s payout ratio is presently 14.02%.

Lennar Company 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.