Kestra Private Wealth Services LLC bought a new position in Lennar Corporation (NYSE:LEN – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,368 shares of the construction company’s stock, valued at approximately $553,000.
Several other institutional investors also recently made changes to their positions in the stock. Lazard Asset Management LLC lifted its holdings in shares of Lennar by 7.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after purchasing an additional 85 shares during the last quarter. Rossby Financial LCC boosted its position in Lennar by 9.1% during the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock valued at $109,000 after purchasing an additional 88 shares during the period. New Mexico Educational Retirement Board grew its stake in Lennar by 1.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock worth $1,086,000 after buying an additional 100 shares during the last quarter. One Wealth Capital Management LLC increased its position in Lennar by 6.4% in the third quarter. One Wealth Capital Management LLC now owns 1,972 shares of the construction company’s stock worth $249,000 after buying an additional 119 shares during the period. Finally, KDT Advisors LLC lifted its stake in Lennar by 2.7% in the third quarter. KDT Advisors LLC now owns 4,654 shares of the construction company’s stock valued at $587,000 after buying an additional 123 shares during the last quarter. 81.10% of the stock is owned by institutional investors.
Lennar Trading Down 0.1%
NYSE:LEN opened at $88.15 on Friday. The stock has a market cap of $21.24 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 2.93 and a beta of 1.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. Lennar Corporation has a 1 year low of $81.18 and a 1 year high of $144.24. The business has a fifty day moving average of $89.38 and a 200-day moving average of $99.56.
Lennar Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, July 10th. Lennar’s payout ratio is 31.30%.
Analysts Set New Price Targets
LEN has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Lennar from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Tuesday, June 16th. Argus cut their price objective on shares of Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. The Goldman Sachs Group reissued a “neutral” rating on shares of Lennar in a research note on Friday, June 5th. Citigroup decreased their target price on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. Finally, Royal Bank Of Canada dropped their price target on shares of Lennar from $88.00 to $85.00 and set an “underperform” rating on the stock in a research note on Monday, June 15th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lennar presently has a consensus rating of “Reduce” and a consensus price target of $95.00.
Lennar Company Profile
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.
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