Lennar Corporation $LEN Shares Bought by Live Oak Private Wealth LLC

Live Oak Private Wealth LLC raised its position in Lennar Corporation (NYSE:LEN) by 518.9% in the first quarter, Holdings Channel reports. The institutional investor owned 56,564 shares of the construction company’s stock after purchasing an additional 47,425 shares during the period. Live Oak Private Wealth LLC’s holdings in Lennar were worth $4,912,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC increased its stake in shares of Lennar by 7.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after purchasing an additional 85 shares in the last quarter. Rossby Financial LCC boosted its position in Lennar by 9.1% during the fourth quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock worth $109,000 after purchasing an additional 88 shares in the last quarter. New Mexico Educational Retirement Board grew its holdings in Lennar by 1.0% in the fourth quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock valued at $1,086,000 after purchasing an additional 100 shares during the period. Provenance Wealth Advisors LLC increased its position in shares of Lennar by 23.8% in the third quarter. Provenance Wealth Advisors LLC now owns 619 shares of the construction company’s stock valued at $78,000 after buying an additional 119 shares in the last quarter. Finally, One Wealth Capital Management LLC raised its stake in shares of Lennar by 6.4% during the 3rd quarter. One Wealth Capital Management LLC now owns 1,972 shares of the construction company’s stock worth $249,000 after buying an additional 119 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Up 6.3%

NYSE LEN opened at $92.87 on Thursday. The business has a fifty day moving average price of $89.58 and a 200 day moving average price of $100.88. Lennar Corporation has a one year low of $81.18 and a one year high of $144.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. The company has a market cap of $22.94 billion, a P/E ratio of 14.53, a P/E/G ratio of 2.87 and a beta of 1.39.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The company had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $8.08 billion. During the same quarter in the previous year, the company posted $1.81 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. Research analysts anticipate that Lennar Corporation will post 5.58 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. Lennar’s payout ratio is presently 31.30%.

Analyst Ratings Changes

LEN has been the topic of a number of research analyst reports. Seaport Research Partners reissued a “sell” rating and issued a $74.00 price target (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. Evercore increased their price objective on shares of Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a report on Monday, June 15th. BTIG Research set a $67.00 target price on shares of Lennar in a research report on Monday, June 15th. Zacks Research cut shares of Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Finally, Argus decreased their price target on shares of Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $95.00.

Lennar Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.