Mengis Capital Management Inc. Has $1.96 Million Stock Holdings in Lennar Co. (NYSE:LEN)

Mengis Capital Management Inc. lessened its stake in shares of Lennar Co. (NYSE:LEN) by 2.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,161 shares of the construction company’s stock after selling 309 shares during the quarter. Mengis Capital Management Inc.’s holdings in Lennar were worth $1,962,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LEN. RFG Advisory LLC increased its holdings in Lennar by 2.1% in the 4th quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock valued at $573,000 after buying an additional 79 shares during the period. Merit Financial Group LLC increased its holdings in Lennar by 2.6% in the 3rd quarter. Merit Financial Group LLC now owns 4,009 shares of the construction company’s stock valued at $450,000 after buying an additional 101 shares during the period. Verdence Capital Advisors LLC increased its holdings in Lennar by 4.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,810 shares of the construction company’s stock valued at $315,000 after buying an additional 113 shares during the period. Ieq Capital LLC increased its holdings in Lennar by 7.0% in the 3rd quarter. Ieq Capital LLC now owns 1,808 shares of the construction company’s stock valued at $203,000 after buying an additional 118 shares during the period. Finally, Sheaff Brock Investment Advisors LLC increased its holdings in Lennar by 4.2% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 2,991 shares of the construction company’s stock valued at $336,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of Lennar from $224.00 to $238.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Wells Fargo & Company lifted their price target on shares of Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Wedbush reaffirmed an “underperform” rating and set a $144.00 price target on shares of Lennar in a report on Tuesday, April 2nd. Oppenheimer reaffirmed a “market perform” rating on shares of Lennar in a report on Friday, March 15th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Lennar from $175.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Lennar Trading Up 1.5 %

Shares of Lennar stock traded up $2.32 on Monday, hitting $152.51. 792,918 shares of the company’s stock traded hands, compared to its average volume of 2,111,900. The company has a fifty day moving average of $159.57 and a two-hundred day moving average of $142.78. Lennar Co. has a one year low of $102.90 and a one year high of $172.59. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.47 and a quick ratio of 1.27. The company has a market capitalization of $42.45 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.53.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $7.39 billion. During the same period in the prior year, the business earned $2.12 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, sell-side analysts expect that Lennar Co. will post 14.46 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Tuesday, April 23rd. Lennar’s dividend payout ratio (DPR) is presently 14.02%.

Insider Transactions at Lennar

In related news, Director Amy Banse acquired 1,575 shares of the stock in a transaction dated Wednesday, April 10th. The stock was purchased at an average cost of $157.00 per share, with a total value of $247,275.00. Following the completion of the purchase, the director now directly owns 11,859 shares in the company, valued at approximately $1,861,863. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 9.36% of the company’s stock.

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.