Concord Wealth Partners Boosts Holdings in Lennar Co. (NYSE:LEN)

Concord Wealth Partners increased its position in Lennar Co. (NYSE:LEN) by 8.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,955 shares of the construction company’s stock after buying an additional 318 shares during the quarter. Concord Wealth Partners’ holdings in Lennar were worth $539,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Oakworth Capital Inc. acquired a new stake in shares of Lennar during the third quarter valued at about $27,000. Wolff Wiese Magana LLC grew its stake in Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. purchased a new stake in Lennar during the 3rd quarter worth approximately $30,000. Asset Dedication LLC boosted its stake in shares of Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after buying an additional 169 shares during the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Lennar during the fourth quarter worth approximately $25,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LEN has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Keefe, Bruyette & Woods reduced their price objective on Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Wedbush reiterated a “neutral” rating and set a $164.00 target price on shares of Lennar in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, Barclays dropped their price objective on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $167.50.

Lennar Stock Down 3.0 %

LEN stock opened at $131.25 on Friday. The firm’s 50-day moving average is $146.97 and its two-hundred day moving average is $166.46. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $35.60 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 1.33 and a beta of 1.66. Lennar Co. has a 52 week low of $128.41 and a 52 week high of $193.80.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $4.82 earnings per share. On average, analysts forecast that Lennar Co. will post 12.52 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.52%. Lennar’s dividend payout ratio (DPR) is 13.95%.

Lennar Company 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.