Lennar Co. (NYSE:LEN) Shares Bought by Concord Wealth Partners

Concord Wealth Partners grew its holdings in shares of Lennar Co. (NYSE:LEN) by 2.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,637 shares of the construction company’s stock after purchasing an additional 85 shares during the period. Concord Wealth Partners’ holdings in Lennar were worth $682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Sunbelt Securities Inc. acquired a new stake in Lennar in the first quarter worth approximately $44,000. Hennion & Walsh Asset Management Inc. lifted its position in shares of Lennar by 73.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 10,860 shares of the construction company’s stock valued at $1,868,000 after acquiring an additional 4,591 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Lennar by 51.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 271 shares of the construction company’s stock valued at $47,000 after purchasing an additional 92 shares in the last quarter. Measured Wealth Private Client Group LLC lifted its holdings in shares of Lennar by 3.5% in the first quarter. Measured Wealth Private Client Group LLC now owns 3,682 shares of the construction company’s stock valued at $633,000 after purchasing an additional 124 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Lennar by 0.9% in the first quarter. Valeo Financial Advisors LLC now owns 9,431 shares of the construction company’s stock valued at $1,622,000 after purchasing an additional 88 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on LEN. The Goldman Sachs Group downgraded shares of Lennar from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $180.00 to $174.00 in a research note on Monday, July 22nd. Royal Bank of Canada upped their price target on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Evercore ISI lowered their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $181.11.

Lennar Stock Up 0.1 %

LEN traded up $0.16 during trading on Monday, hitting $173.44. The company had a trading volume of 350,343 shares, compared to its average volume of 2,045,319. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. Lennar Co. has a one year low of $103.41 and a one year high of $193.80. The firm’s 50-day moving average price is $182.08 and its 200 day moving average price is $167.22. The company has a market capitalization of $47.04 billion, a PE ratio of 11.48, a PEG ratio of 1.62 and a beta of 1.61.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same period in the previous year, the business earned $3.91 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts expect that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. Lennar’s payout ratio is 13.25%.

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.