HighPoint Advisor Group LLC Invests $615,000 in Lennar Co. (NYSE:LEN)

HighPoint Advisor Group LLC purchased a new position in shares of Lennar Co. (NYSE:LEN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,128 shares of the construction company’s stock, valued at approximately $615,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in Lennar by 6,297.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company’s stock worth $98,706,000 after buying an additional 651,924 shares during the period. AQR Capital Management LLC grew its position in Lennar by 47.6% during the third quarter. AQR Capital Management LLC now owns 1,501,257 shares of the construction company’s stock worth $168,486,000 after buying an additional 484,056 shares during the period. The Manufacturers Life Insurance Company grew its position in Lennar by 5.9% during the third quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock worth $734,477,000 after buying an additional 366,983 shares during the period. Jennison Associates LLC grew its position in Lennar by 97.4% during the fourth quarter. Jennison Associates LLC now owns 354,711 shares of the construction company’s stock worth $52,866,000 after buying an additional 174,981 shares during the period. Finally, Akaris Global Partners LP acquired a new position in Lennar during the third quarter worth about $15,016,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 transaction of $1,512,938.88. Following the transaction, the vice president now owns 16,768 shares of the company’s stock, valued at $2,764,707.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Mark Sustana sold 9,176 shares of the stock in a transaction 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 of the company’s stock, valued at $2,764,707.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the completion of the sale, the insider now directly owns 118,629 shares of the company’s stock, valued at approximately $20,179,979.19. The disclosure for this sale can be found here. Insiders have sold a total of 29,176 shares of company stock valued at $4,841,039 over the last quarter. Company insiders own 9.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on LEN. Oppenheimer reaffirmed a “market perform” rating on shares of Lennar in a report on Friday, March 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $183.00 price target on shares of Lennar in a report on Tuesday. Wedbush reaffirmed an “underperform” rating and issued a $144.00 price target on shares of Lennar in a report on Tuesday. UBS Group upped their price target on shares of Lennar from $190.00 to $198.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Royal Bank of Canada reduced their price target on shares of Lennar from $137.00 to $136.00 and set an “underweight” rating on the stock in a report on Thursday, March 14th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $166.80.

Lennar Stock Performance

NYSE:LEN opened at $148.76 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11. The company has a market cap of $41.41 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.46 and a beta of 1.56. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $172.59. The firm’s 50 day moving average is $157.06 and its two-hundred day moving average is $154.86.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lennar’s dividend payout ratio is currently 13.60%.

Lennar Company 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.