Mid American Wealth Advisory Group Inc. Makes New $43,000 Investment in Lennar Corporation $LEN

Mid American Wealth Advisory Group Inc. purchased a new stake in Lennar Corporation (NYSE:LEN) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 388 shares of the construction company’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after acquiring an additional 377 shares during the last quarter. Heartland Bank & Trust Co grew its holdings in shares of Lennar by 19.7% in the first quarter. Heartland Bank & Trust Co now owns 2,644 shares of the construction company’s stock valued at $303,000 after purchasing an additional 435 shares during the period. Manning & Napier Advisors LLC raised its stake in Lennar by 86.6% during the first quarter. Manning & Napier Advisors LLC now owns 28,256 shares of the construction company’s stock worth $3,243,000 after purchasing an additional 13,116 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Lennar by 13.0% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,688 shares of the construction company’s stock valued at $768,000 after purchasing an additional 767 shares during the last quarter. Finally, Stiles Financial Services Inc grew its stake in shares of Lennar by 19.8% in the 1st quarter. Stiles Financial Services Inc now owns 9,399 shares of the construction company’s stock valued at $1,079,000 after buying an additional 1,552 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Up 0.0%

Shares of NYSE:LEN opened at $125.87 on Tuesday. The firm’s 50-day moving average is $129.71 and its two-hundred day moving average is $116.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $188.08. The firm has a market capitalization of $32.10 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 5.85 and a beta of 1.37.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same period in the prior year, the firm earned $3.90 EPS. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. Analysts predict that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Lennar’s payout ratio is presently 19.76%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America decreased their price objective on Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. The Goldman Sachs Group upped their price target on Lennar from $122.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Wells Fargo & Company cut their price objective on Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, October 10th. Raymond James Financial cut shares of Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. Finally, UBS Group boosted their price target on shares of Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Lennar presently has an average rating of “Hold” and a consensus price target of $121.75.

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.