Procyon Advisors LLC Buys 14,188 Shares of Lennar Co. (NYSE:LEN)

Procyon Advisors LLC increased its position in shares of Lennar Co. (NYSE:LEN - Free Report) by 141.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,228 shares of the construction company's stock after acquiring an additional 14,188 shares during the period. Procyon Advisors LLC's holdings in Lennar were worth $2,781,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Howard Capital Management Inc. lifted its position in shares of Lennar by 0.3% during the 4th quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company's stock worth $3,932,000 after buying an additional 81 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Lennar by 3.1% in the 4th quarter. Lake Street Advisors Group LLC now owns 3,201 shares of the construction company's stock worth $436,000 after purchasing an additional 96 shares during the period. Horizon Investments LLC raised its holdings in shares of Lennar by 2.1% in the 4th quarter. Horizon Investments LLC now owns 4,818 shares of the construction company's stock worth $629,000 after purchasing an additional 98 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in shares of Lennar by 9.1% in the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 1,200 shares of the construction company's stock worth $164,000 after purchasing an additional 100 shares during the period. Finally, Unison Advisors LLC raised its holdings in shares of Lennar by 0.3% in the 4th quarter. Unison Advisors LLC now owns 37,040 shares of the construction company's stock worth $5,051,000 after purchasing an additional 100 shares during the period. Institutional investors own 81.10% of the company's stock.

Lennar Price Performance

LEN stock traded down $1.55 during mid-day trading on Friday, hitting $108.51. 1,912,825 shares of the stock were exchanged, compared to its average volume of 2,635,692. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The business has a fifty day moving average price of $107.63 and a 200 day moving average price of $126.06. Lennar Co. has a 12 month low of $98.42 and a 12 month high of $187.61. The stock has a market capitalization of $28.62 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 1.24 and a beta of 1.41.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same quarter in the previous year, the company posted $2.57 earnings per share. The company's revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lennar's dividend payout ratio (DPR) is presently 14.57%.

Analyst Upgrades and Downgrades

LEN has been the topic of a number of research reports. UBS Group lowered their price target on shares of Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Evercore ISI restated an "in-line" rating and set a $131.00 target price (down previously from $159.00) on shares of Lennar in a research report on Monday, March 24th. The Goldman Sachs Group reduced their price target on Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. Wedbush reiterated a "neutral" rating and issued a $158.00 price target on shares of Lennar in a research report on Monday, March 17th. Finally, Barclays reduced their price target on Lennar from $121.00 to $110.00 and set an "equal weight" rating for the company in a research report on Monday, March 24th. Fifteen investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lennar currently has a consensus rating of "Hold" and a consensus target price of $150.07.

About Lennar

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.