Procyon Advisors LLC Purchases 136 Shares of Lennar Co. (NYSE:LEN)

Procyon Advisors LLC lifted its position in Lennar Co. (NYSE:LEN) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,549 shares of the construction company’s stock after buying an additional 136 shares during the quarter. Procyon Advisors LLC’s holdings in Lennar were worth $1,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LEN. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Lennar in the third quarter valued at $27,000. Raleigh Capital Management Inc. bought a new position in shares of Lennar in the third quarter valued at $28,000. BluePath Capital Management LLC acquired a new stake in Lennar during the 3rd quarter valued at $29,000. Coppell Advisory Solutions LLC acquired a new stake in Lennar during the 2nd quarter valued at $46,000. Finally, NBC Securities Inc. acquired a new stake in Lennar during the 3rd quarter valued at $56,000. 81.10% of the stock is owned by institutional investors.

Lennar Stock Up 1.3 %

LEN stock traded up $2.16 during midday trading on Thursday, reaching $170.66. 140,520 shares of the company’s stock traded hands, compared to its average volume of 2,058,951. The company has a market cap of $47.92 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 2.20 and a beta of 1.52. The firm’s fifty day moving average price is $155.76 and its 200-day moving average price is $136.76. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11. Lennar Co. has a 52 week low of $100.95 and a 52 week high of $170.69.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.39 billion. Lennar had a net margin of 11.59% and a return on equity of 15.90%. Lennar’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.12 EPS. As a group, sell-side analysts forecast that Lennar Co. will post 14.24 earnings per share for the current fiscal year.

Lennar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th were issued a $0.50 dividend. This is an increase from Lennar’s previous quarterly dividend of $0.38. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Tuesday, January 23rd. Lennar’s payout ratio is 14.02%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LEN. StockNews.com raised Lennar from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Barclays lifted their target price on Lennar from $173.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Lennar from $110.00 to $122.00 and gave the stock a “sell” rating in a report on Thursday, March 14th. Raymond James lifted their target price on Lennar from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, December 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a research note on Friday, March 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.69.

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.