Empirical Asset Management LLC Boosts Stock Holdings in Lennar Co. (NYSE:LEN)

Empirical Asset Management LLC grew its holdings in shares of Lennar Co. (NYSE:LEN) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,322 shares of the construction company’s stock after purchasing an additional 125 shares during the period. Empirical Asset Management LLC’s holdings in Lennar were worth $435,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rise Advisors LLC lifted its holdings in Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after acquiring an additional 121 shares during the period. J.Safra Asset Management Corp purchased a new stake in Lennar during the first quarter worth about $30,000. New Covenant Trust Company N.A. acquired a new position in Lennar during the first quarter worth about $32,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Lennar during the 1st quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after acquiring an additional 161 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LEN has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price objective on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Argus boosted their price objective on shares of Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Bank of America increased their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Company downgraded Lennar from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $205.00 to $190.00 in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $181.11.

Lennar Price Performance

Lennar stock opened at $181.60 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The company has a market cap of $49.87 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.68 and a beta of 1.61. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $193.80. The firm has a 50 day moving average price of $180.15 and a 200 day moving average price of $166.25.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same period in the prior year, the firm posted $3.91 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts predict that Lennar Co. will post 14.28 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 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.