VCI Wealth Management LLC Makes New $1.03 Million Investment in Lennar Corporation $LEN

VCI Wealth Management LLC acquired a new position in Lennar Corporation (NYSE:LEN) in the fourth quarter, Holdings Channel reports. The fund acquired 9,996 shares of the construction company’s stock, valued at approximately $1,028,000.

A number of other large investors have also added to or reduced their stakes in the company. Guerra Advisors Inc purchased a new stake in Lennar during the third quarter valued at approximately $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Lennar in the 3rd quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new position in Lennar during the 3rd quarter valued at about $26,000. Washington Trust Advisors Inc. grew its stake in shares of Lennar by 102.7% during the third quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after acquiring an additional 188 shares during the last quarter. Finally, Cary Street Partners Financial LLC purchased a new stake in Lennar during the 2nd quarter worth approximately $47,000. 81.10% of the stock is currently owned by institutional investors.

Lennar Price Performance

Shares of NYSE:LEN traded up $3.87 during trading on Friday, reaching $92.67. The stock had a trading volume of 3,618,654 shares, compared to its average volume of 3,395,253. The business has a fifty day moving average price of $100.57 and a 200-day moving average price of $112.22. Lennar Corporation has a 1-year low of $83.03 and a 1-year high of $144.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77. The stock has a market cap of $22.89 billion, a PE ratio of 13.31, a PEG ratio of 1.95 and a beta of 1.47.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The firm had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.14 EPS. On average, equities analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. Lennar’s dividend payout ratio (DPR) is presently 28.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods reduced their target price on Lennar from $105.00 to $97.00 and set a “market perform” rating for the company in a research note on Wednesday, April 1st. Wells Fargo & Company lowered their target price on Lennar from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Citizens Jmp reiterated a “market perform” rating on shares of Lennar in a research report on Wednesday, January 7th. Weiss Ratings lowered Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 16th. Finally, Truist Financial dropped their price objective on Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $99.87.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.