1620 Investment Advisors Inc. Purchases 110 Shares of Lennar Co. (NYSE:LEN)

1620 Investment Advisors Inc. lifted its position in shares of Lennar Co. (NYSE:LEN) by 9.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,318 shares of the construction company’s stock after acquiring an additional 110 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Lennar were worth $247,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LEN. Oak Harvest Investment Services bought a new position in Lennar during the 3rd quarter worth about $820,000. Hudson Valley Investment Advisors Inc. ADV increased its holdings in Lennar by 37.8% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 43,824 shares of the construction company’s stock valued at $8,216,000 after buying an additional 12,015 shares during the period. Pinnacle Associates Ltd. raised its stake in Lennar by 14.4% in the third quarter. Pinnacle Associates Ltd. now owns 13,945 shares of the construction company’s stock worth $2,614,000 after buying an additional 1,757 shares in the last quarter. Childress Capital Advisors LLC bought a new stake in Lennar during the 3rd quarter valued at $224,000. Finally, Strategic Blueprint LLC purchased a new position in shares of Lennar in the 3rd quarter valued at $216,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the transaction, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 9.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup upped their price objective on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. The Goldman Sachs Group downgraded shares of Lennar from a “buy” rating to a “neutral” rating and lowered their target price for the company from $180.00 to $174.00 in a research note on Monday, July 22nd. Finally, Bank Of America (Bofa) increased their price objective on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $181.11.

Lennar Stock Up 0.9 %

NYSE:LEN opened at $171.60 on Thursday. Lennar Co. has a 1-year low of $104.68 and a 1-year high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The firm has a market capitalization of $46.55 billion, a P/E ratio of 11.67, a PEG ratio of 1.62 and a beta of 1.61. The company’s fifty day moving average price is $181.82 and its 200-day moving average price is $167.43.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.91 EPS. As a group, equities research analysts anticipate that Lennar Co. will post 14.18 EPS for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.60%.

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; and development, construction, and management of multifamily rental properties.