Marketfield Asset Management LLC Sells 1,325 Shares of Lennar Co. (NYSE:LEN)


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Marketfield Asset Management LLC cut its stake in shares of Lennar Co. (NYSE:LEN) by 3.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 37,105 shares of the construction company’s stock after selling 1,325 shares during the period. Lennar comprises 2.5% of Marketfield Asset Management LLC’s portfolio, making the stock its 21st biggest holding. Marketfield Asset Management LLC’s holdings in Lennar were worth $3,756,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Childress Capital Advisors LLC bought a new position in shares of Lennar in the fourth quarter worth approximately $30,000. Lenox Wealth Advisors LLC increased its position in shares of Lennar by 132.1% in the fourth quarter. Lenox Wealth Advisors LLC now owns 434 shares of the construction company’s stock worth $33,000 after purchasing an additional 247 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Lennar in the fourth quarter worth approximately $37,000. Heritage Wealth Advisors increased its position in shares of Lennar by 57.1% in the fourth quarter. Heritage Wealth Advisors now owns 550 shares of the construction company’s stock worth $42,000 after purchasing an additional 200 shares during the last quarter. Finally, Key Financial Inc bought a new position in Lennar during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 81.46% of the company’s stock.

LEN has been the topic of a number of recent research reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Lennar from $90.00 to $100.00 in a research report on Monday, December 21st. Raymond James increased their price target on shares of Lennar from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, March 24th. JMP Securities increased their price target on shares of Lennar from $90.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, March 24th. Wolfe Research assumed coverage on Lennar in a research note on Monday, March 22nd. They set an “outperform” rating for the company. Finally, Credit Suisse Group increased their price objective on Lennar from $90.00 to $107.00 and gave the company a “neutral” rating in a research note on Wednesday, March 24th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $96.35.

Shares of NYSE:LEN opened at $104.00 on Tuesday. Lennar Co. has a 1-year low of $38.51 and a 1-year high of $106.40. The business has a fifty day moving average price of $96.54 and a 200-day moving average price of $83.95. The company has a market capitalization of $32.59 billion, a PE ratio of 13.23, a PEG ratio of 1.04 and a beta of 1.56. The company has a debt-to-equity ratio of 0.33, a current ratio of 11.44 and a quick ratio of 1.73.

Lennar (NYSE:LEN) last released its quarterly earnings data on Monday, March 15th. The construction company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.71 by $0.33. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.21 billion. Lennar had a return on equity of 14.17% and a net margin of 10.96%. Lennar’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the company earned $1.27 EPS. On average, sell-side analysts anticipate that Lennar Co. will post 8.5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 5th. Shareholders of record on Wednesday, April 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, April 20th. This represents a $1.00 annualized dividend and a yield of 0.96%. Lennar’s payout ratio is 12.99%.

In related news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 20th. The stock was sold at an average price of $80.22, for a total value of $802,200.00. Following the transaction, the executive vice president now directly owns 151,617 shares of the company’s stock, valued at approximately $12,162,715.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Diane J. Bessette sold 10,036 shares of Lennar stock in a transaction that occurred on Friday, March 26th. The stock was sold at an average price of $100.85, for a total value of $1,012,130.60. Following the completion of the sale, the chief financial officer now directly owns 245,993 shares in the company, valued at approximately $24,808,394.05. The disclosure for this sale can be found here. Insiders sold 30,036 shares of company stock worth $2,838,931 over the last three months. Insiders own 8.60% of the company’s stock.

Lennar 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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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