Parcion Private Wealth LLC Invests $217,000 in Lennar Co. (NYSE:LEN)

Parcion Private Wealth LLC bought a new position in shares of Lennar Co. (NYSE:LEN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,156 shares of the construction company’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Lakewood Asset Management LLC increased its position in shares of Lennar by 0.8% during the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after acquiring an additional 70 shares during the period. NorthCrest Asset Manangement LLC grew its stake in shares of Lennar by 1.5% during the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after purchasing an additional 73 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Lennar by 5.7% during the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after purchasing an additional 74 shares in the last quarter. Quotient Wealth Partners LLC grew its stake in shares of Lennar by 5.0% during the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after purchasing an additional 74 shares in the last quarter. Finally, BBR Partners LLC grew its stake in shares of Lennar by 3.4% during the second quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock worth $364,000 after purchasing an additional 79 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LEN has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” 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. Raymond James downgraded shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada upped their price objective on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. Finally, Wells Fargo & Company downgraded shares of Lennar from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $205.00 to $190.00 in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $181.11.

Lennar Trading Down 1.5 %

Shares of Lennar stock opened at $173.28 on Friday. The company has a 50-day moving average of $182.08 and a two-hundred day moving average of $167.15. The stock has a market cap of $47.00 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.61. Lennar Co. has a 12-month low of $102.90 and a 12-month high of $193.80. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

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

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.50 per share. 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 dividend payout ratio (DPR) is currently 13.25%.

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.