Axxcess Wealth Management LLC Purchases New Holdings in Lennar Co. (NYSE:LEN)

Axxcess Wealth Management LLC acquired a new stake in Lennar Co. (NYSE:LEN) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 1,285 shares of the construction company’s stock, valued at approximately $221,000.

A number of other institutional investors also recently added to or reduced their stakes in LEN. Rise Advisors LLC boosted its holdings in Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after purchasing an additional 121 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in Lennar in the 1st quarter valued at approximately $30,000. Redmont Wealth Advisors LLC purchased a new stake in Lennar in the 1st quarter valued at approximately $35,000. Criterion Capital Advisors LLC purchased a new stake in shares of Lennar during the 4th quarter worth approximately $36,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Lennar during the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price target on Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. The Goldman Sachs Group downgraded Lennar from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $180.00 to $174.00 in a research report on Monday, July 22nd. BTIG Research cut their price objective on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Evercore ISI lifted their price objective on Lennar from $237.00 to $240.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, JMP Securities restated a “market outperform” rating and set a $170.00 price objective on shares of Lennar in a research report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $167.88.

Lennar Stock Performance

NYSE:LEN opened at $176.71 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The firm has a 50-day moving average of $156.05 and a two-hundred day moving average of $156.88. The stock has a market cap of $48.52 billion, a P/E ratio of 12.01, a PEG ratio of 1.60 and a beta of 1.60. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $178.75.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, topping the consensus estimate of $3.20 by $0.18. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.57 billion. Lennar had a net margin of 11.58% and a return on equity of 15.93%. On average, research analysts expect that Lennar Co. will post 14.16 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Friday, July 5th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Insider Buying and Selling

In related news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the completion of the sale, the executive vice president now directly owns 128,629 shares in the company, valued at $20,927,938.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Lennar news, VP Mark Sustana sold 9,176 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $164.88, for a total value of $1,512,938.88. Following the completion of the sale, the vice president now owns 16,768 shares in the company, valued at approximately $2,764,707.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the completion of the sale, the executive vice president now owns 128,629 shares of the company’s stock, valued at approximately $20,927,938.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,176 shares of company stock worth $4,841,039. Corporate insiders own 9.36% 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; and development, construction, and management of multifamily rental properties.