Addison Capital Co acquired a new position in Lennar Co. (NYSE:LEN) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 7,119 shares of the construction company’s stock, valued at approximately $450,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Fishman Jay A Ltd. MI acquired a new position in shares of Lennar in the 3rd quarter worth approximately $1,771,000. Rational Advisors LLC acquired a new position in shares of Lennar in the third quarter worth about $1,438,000. Bank of Nova Scotia boosted its holdings in shares of Lennar by 71.8% in the second quarter. Bank of Nova Scotia now owns 79,890 shares of the construction company’s stock worth $4,260,000 after buying an additional 33,388 shares during the period. Parkwood LLC acquired a new position in shares of Lennar in the third quarter worth about $3,969,000. Finally, Toronto Dominion Bank boosted its holdings in shares of Lennar by 25.5% in the second quarter. Toronto Dominion Bank now owns 68,832 shares of the construction company’s stock worth $3,669,000 after buying an additional 13,992 shares during the period. 81.25% of the stock is currently owned by institutional investors.
Lennar Co. (NYSE LEN) traded up $1.28 during mid-day trading on Friday, hitting $71.82. 3,647,437 shares of the company traded hands, compared to its average volume of 4,664,246. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76. The firm has a market capitalization of $16,690.00, a PE ratio of 20.70, a P/E/G ratio of 1.04 and a beta of 1.35. Lennar Co. has a twelve month low of $43.46 and a twelve month high of $72.07.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 26th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Thursday, January 25th. Lennar’s dividend payout ratio (DPR) is presently 4.61%.
Several brokerages have commented on LEN. Wedbush set a $60.00 target price on shares of Lennar and gave the stock a “hold” rating in a report on Thursday, January 4th. Zacks Investment Research cut shares of Lennar from a “buy” rating to a “hold” rating in a report on Monday. Bank of America raised their target price on shares of Lennar from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. Wells Fargo & Co upgraded shares of Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 target price for the company in a report on Tuesday, January 2nd. Finally, MKM Partners upgraded shares of Lennar from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $63.93.
In other Lennar news, VP Diane J. Bessette sold 10,000 shares of Lennar stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $69.50, for a total value of $695,000.00. Following the completion of the sale, the vice president now directly owns 222,396 shares in the company, valued at $15,456,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Mark Sustana sold 125,000 shares of Lennar stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $69.55, for a total transaction of $8,693,750.00. Following the completion of the sale, the general counsel now owns 65,720 shares of the company’s stock, valued at $4,570,826. The disclosure for this sale can be found here. Insiders sold 165,000 shares of company stock valued at $11,316,300 over the last quarter. Corporate insiders own 12.18% of the company’s stock.
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Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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