Oppenheimer Asset Management Inc. Acquires 65,485 Shares of Lennar Corporation $LEN

Oppenheimer Asset Management Inc. increased its holdings in Lennar Corporation (NYSE:LEN) by 16.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 454,585 shares of the construction company’s stock after buying an additional 65,485 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Lennar were worth $50,282,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in LEN. FNY Investment Advisers LLC bought a new stake in shares of Lennar during the 2nd quarter valued at about $33,000. Disciplina Capital Management LLC grew its stake in shares of Lennar by 179.8% during the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock valued at $38,000 after acquiring an additional 214 shares during the period. Oakworth Capital Inc. grew its stake in shares of Lennar by 139.9% during the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock valued at $39,000 after acquiring an additional 200 shares during the period. Mid American Wealth Advisory Group Inc. bought a new position in shares of Lennar during the 2nd quarter valued at approximately $43,000. Finally, Wayfinding Financial LLC purchased a new position in Lennar in the 1st quarter worth approximately $44,000. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LEN. Royal Bank Of Canada boosted their price target on Lennar from $98.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, September 22nd. The Goldman Sachs Group boosted their price target on Lennar from $122.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Zacks Research cut Lennar from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. Evercore ISI decreased their price objective on Lennar from $118.00 to $114.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. Finally, Bank of America decreased their price objective on Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lennar currently has an average rating of “Hold” and a consensus price target of $121.75.

Lennar Stock Performance

NYSE:LEN opened at $127.69 on Friday. The stock’s fifty day moving average is $129.55 and its 200 day moving average is $117.43. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $180.12. The firm has a market capitalization of $32.56 billion, a PE ratio of 12.62, a PEG ratio of 5.94 and a beta of 1.37. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The company had revenue of $8.81 billion for the quarter, compared to analyst estimates of $9.01 billion. During the same quarter in the prior year, the firm posted $3.90 EPS. Lennar’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, October 10th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Lennar’s dividend payout ratio is 19.76%.

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.