Confluence Wealth Services Inc. Purchases 511 Shares of Lennar Co. (NYSE:LEN)

Confluence Wealth Services Inc. increased its position in shares of Lennar Co. (NYSE:LEN) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,350 shares of the construction company’s stock after purchasing an additional 511 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Lennar were worth $1,102,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LEN. Graypoint LLC purchased a new stake in Lennar during the second quarter worth about $204,000. Commonwealth Equity Services LLC raised its holdings in shares of Lennar by 6.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 47,007 shares of the construction company’s stock worth $7,045,000 after purchasing an additional 2,801 shares during the period. Legacy Advisors LLC bought a new position in Lennar during the second quarter valued at $281,000. Rothschild Investment LLC purchased a new stake in Lennar in the second quarter worth $128,000. Finally, Arrow Financial Corp raised its stake in shares of Lennar by 144.4% in the second quarter. Arrow Financial Corp now owns 8,066 shares of the construction company’s stock valued at $1,209,000 after buying an additional 4,766 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LEN. Royal Bank of Canada restated an “underperform” rating and issued a $145.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Wedbush upgraded shares of Lennar from an “underperform” rating to a “neutral” rating and set a $144.00 price target on the stock in a research note on Tuesday, July 9th. JMP Securities reissued a “market outperform” rating and set a $170.00 target price on shares of Lennar in a report on Thursday, June 20th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $183.00 price target on shares of Lennar in a research report on Tuesday, June 18th. Finally, Wells Fargo & Company raised their target price on Lennar from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Lennar presently has a consensus rating of “Hold” and an average target price of $169.13.

Lennar Trading Up 0.9 %

Shares of LEN traded up $1.55 during mid-day trading on Friday, reaching $182.06. The company’s stock had a trading volume of 1,458,297 shares, compared to its average volume of 1,576,444. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $186.60. The company’s fifty day moving average price is $165.96 and its two-hundred day moving average price is $161.05. The stock has a market cap of $49.99 billion, a PE ratio of 12.38, a P/E/G ratio of 1.65 and a beta of 1.60.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.18. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. On average, analysts predict that Lennar Co. will post 14.16 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, July 5th. Lennar’s payout ratio is 13.60%.

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.