Childress Capital Advisors LLC Purchases New Stake in Lennar Co. (NYSE:LEN)

Childress Capital Advisors LLC purchased a new stake in Lennar Co. (NYSE:LEN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,201 shares of the construction company’s stock, valued at approximately $224,000.

A number of other institutional investors have also recently modified their holdings of the business. Strategic Blueprint LLC purchased a new stake in Lennar during the third quarter worth $216,000. Boston Financial Mangement LLC purchased a new stake in Lennar during the third quarter worth $208,000. abrdn plc boosted its position in Lennar by 35.7% during the third quarter. abrdn plc now owns 73,885 shares of the construction company’s stock worth $13,806,000 after purchasing an additional 19,418 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in Lennar during the third quarter worth $217,000. Finally, Concord Wealth Partners raised its holdings in shares of Lennar by 2.4% in the third quarter. Concord Wealth Partners now owns 3,637 shares of the construction company’s stock worth $682,000 after acquiring an additional 85 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LEN shares. Bank Of America (Bofa) boosted their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Wells Fargo & Company cut Lennar from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $205.00 to $190.00 in a report on Monday, October 7th. Royal Bank of Canada boosted their price target on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods boosted their price target on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and cut their price target for the stock from $180.00 to $174.00 in a report on Monday, July 22nd. Two 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. Based on data from MarketBeat, Lennar currently has an average rating of “Hold” and an average target price of $181.11.

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction dated Monday, October 28th. The stock was 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 of the company’s stock, 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 document filed with the SEC, which is accessible through this link. Company insiders own 9.36% of the company’s stock.

Lennar Stock Performance

Shares of NYSE:LEN opened at $171.60 on Thursday. Lennar Co. has a 12 month low of $104.68 and a 12 month high of $193.80. The business has a 50-day moving average of $181.82 and a two-hundred day moving average of $167.43. 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 PE ratio of 11.67, a P/E/G ratio of 1.62 and a beta of 1.61.

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

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given 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 payout ratio is 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.