Cornerstone Wealth Group LLC Acquires Shares of 3,092 Lennar Co. (NYSE:LEN)

Cornerstone Wealth Group LLC acquired a new stake in Lennar Co. (NYSE:LEN) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,092 shares of the construction company’s stock, valued at approximately $532,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC lifted its stake in Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after buying an additional 121 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in Lennar in the fourth quarter valued at approximately $36,000. Raleigh Capital Management Inc. purchased a new stake in shares of Lennar during the third quarter worth approximately $28,000. Sunbelt Securities Inc. purchased a new stake in shares of Lennar during the first quarter worth approximately $44,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Lennar during the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Activity at Lennar

In related news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 128,629 shares of the company’s stock, valued at $20,927,938.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Mark Sustana sold 9,176 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the transaction, the vice president now directly owns 16,768 shares in the company, valued at $2,764,707.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $162.70, for a total value of $1,627,000.00. Following the transaction, the executive vice president now owns 128,629 shares in the company, valued at $20,927,938.30. 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. Insiders own 9.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Lennar from $110.00 to $122.00 and gave the stock a “sell” rating in a research note on Thursday, March 14th. Oppenheimer reiterated a “market perform” rating on shares of Lennar in a research report on Friday, March 15th. Evercore ISI cut their price objective on Lennar from $238.00 to $237.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Wedbush reiterated an “underperform” rating and issued a $144.00 price objective on shares of Lennar in a research report on Tuesday, June 18th. Finally, Argus increased their price objective on Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $167.31.

Lennar Stock Up 0.5 %

LEN opened at $149.87 on Monday. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The firm has a market cap of $41.71 billion, a P/E ratio of 10.19, a PEG ratio of 1.35 and a beta of 1.60. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $172.59. The business’s fifty day simple moving average is $156.22 and its 200 day simple moving average is $155.54.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, July 5th. Lennar’s payout ratio is currently 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.