Thomas J. Herzfeld Advisors Inc. Reduces Holdings in Lennar Co. (LEN)

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Thomas J. Herzfeld Advisors Inc. decreased its position in shares of Lennar Co. (NYSE:LEN) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,500 shares of the construction company’s stock after selling 990 shares during the quarter. Lennar accounts for approximately 1.1% of Thomas J. Herzfeld Advisors Inc.’s portfolio, making the stock its 24th largest holding. Thomas J. Herzfeld Advisors Inc.’s holdings in Lennar were worth $2,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Long Pond Capital LP grew its stake in shares of Lennar by 5,105.2% during the 1st quarter. Long Pond Capital LP now owns 1,750,939 shares of the construction company’s stock worth $103,200,000 after purchasing an additional 1,717,301 shares during the period. Eagle Asset Management Inc. grew its stake in Lennar by 13.7% in the 4th quarter. Eagle Asset Management Inc. now owns 1,223,904 shares of the construction company’s stock valued at $77,075,000 after acquiring an additional 147,399 shares during the period. Glenhill Advisors LLC acquired a new stake in Lennar in the 4th quarter valued at $66,782,000. Swiss National Bank grew its stake in Lennar by 22.0% in the 1st quarter. Swiss National Bank now owns 912,888 shares of the construction company’s stock valued at $53,806,000 after acquiring an additional 164,388 shares during the period. Finally, Carillon Tower Advisers Inc. acquired a new stake in Lennar in the 4th quarter valued at $53,102,000. 86.22% of the stock is currently owned by institutional investors and hedge funds.

LEN has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Lennar from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, March 13th. Citigroup lifted their price target on shares of Lennar from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, April 5th. Credit Suisse Group set a $81.00 price target on shares of Lennar and gave the company a “buy” rating in a research note on Wednesday, April 4th. MKM Partners dropped their price target on shares of Lennar to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, May 23rd. Finally, Maxim Group dropped their price target on shares of Lennar from $83.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, May 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $71.69.

In related news, SVP Jeffrey Joseph Mccall sold 50,887 shares of the business’s stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $50.70, for a total value of $2,579,970.90. Following the sale, the senior vice president now directly owns 190,052 shares in the company, valued at approximately $9,635,636.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Sonnenfeld sold 2,095 shares of the business’s stock in a transaction dated Friday, April 6th. The shares were sold at an average price of $62.98, for a total transaction of $131,943.10. Following the completion of the sale, the director now owns 32,072 shares in the company, valued at $2,019,894.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,870 shares of company stock worth $5,455,795. Insiders own 8.50% of the company’s stock.

Shares of Lennar opened at $52.50 on Friday, Marketbeat reports. Lennar Co. has a fifty-two week low of $48.71 and a fifty-two week high of $72.17. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.84 and a current ratio of 16.40. The firm has a market capitalization of $16.95 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 0.53 and a beta of 1.25.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Tuesday, June 26th. The construction company reported $1.58 EPS for the quarter, topping the consensus estimate of $0.45 by $1.13. Lennar had a return on equity of 14.18% and a net margin of 6.49%. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. The company’s quarterly revenue was up 67.4% compared to the same quarter last year. sell-side analysts expect that Lennar Co. will post 5.09 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 26th. Stockholders of record on Thursday, July 12th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, July 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.30%. Lennar’s dividend payout ratio is presently 4.20%.

Lennar Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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.

Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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