Moors & Cabot Inc. Buys 66 Shares of Lennar Co. (NYSE:LEN)

Moors & Cabot Inc. lifted its position in Lennar Co. (NYSE:LEN) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,075 shares of the construction company’s stock after purchasing an additional 66 shares during the quarter. Moors & Cabot Inc.’s holdings in Lennar were worth $577,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. bought a new position in shares of Lennar in the first quarter valued at approximately $280,000. Axxcess Wealth Management LLC acquired a new position in Lennar in the first quarter worth $221,000. 1832 Asset Management L.P. grew its holdings in shares of Lennar by 21.4% during the first quarter. 1832 Asset Management L.P. now owns 24,380 shares of the construction company’s stock worth $4,193,000 after purchasing an additional 4,294 shares during the last quarter. BOKF NA increased its stake in shares of Lennar by 2.7% in the first quarter. BOKF NA now owns 27,570 shares of the construction company’s stock valued at $4,627,000 after buying an additional 728 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Lennar by 1.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 350,987 shares of the construction company’s stock valued at $60,364,000 after buying an additional 6,136 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LEN has been the subject of a number of research analyst reports. JMP Securities boosted their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Wells Fargo & Company reduced their price objective on Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Citigroup upped their price target on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Wedbush reiterated a “neutral” rating and issued a $144.00 price objective on shares of Lennar in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Lennar has an average rating of “Hold” and a consensus price target of $180.56.

Insider Buying and Selling

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the transaction, the director now directly owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.36% of the company’s stock.

Lennar Stock Performance

LEN stock opened at $169.17 on Friday. Lennar Co. has a 1-year low of $125.17 and a 1-year high of $193.80. The business’s 50-day moving average price is $178.07 and its two-hundred day moving average price is $169.20. The firm has a market cap of $45.89 billion, a PE ratio of 11.20, a P/E/G ratio of 1.58 and a beta of 1.62. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

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 analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.91 EPS. As a group, research analysts forecast that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.18%. Lennar’s dividend payout ratio is currently 13.25%.

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.