Kestra Private Wealth Services LLC Acquires Shares of 6,368 Lennar Corporation $LEN

Kestra Private Wealth Services LLC bought a new position in shares of Lennar Corporation (NYSE:LEN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,368 shares of the construction company’s stock, valued at approximately $553,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ritholtz Wealth Management lifted its holdings in Lennar by 5.4% in the 1st quarter. Ritholtz Wealth Management now owns 2,926 shares of the construction company’s stock worth $254,000 after buying an additional 150 shares in the last quarter. Live Oak Private Wealth LLC grew its stake in shares of Lennar by 518.9% during the first quarter. Live Oak Private Wealth LLC now owns 56,564 shares of the construction company’s stock valued at $4,912,000 after acquiring an additional 47,425 shares in the last quarter. TrueMark Investments LLC grew its stake in shares of Lennar by 126.6% during the first quarter. TrueMark Investments LLC now owns 53,187 shares of the construction company’s stock valued at $4,619,000 after acquiring an additional 29,713 shares in the last quarter. First PREMIER Bank increased its position in shares of Lennar by 67.6% during the first quarter. First PREMIER Bank now owns 1,054 shares of the construction company’s stock worth $92,000 after acquiring an additional 425 shares during the last quarter. Finally, OP Asset Management Ltd acquired a new position in shares of Lennar in the first quarter worth about $1,948,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BTIG Research set a $67.00 price objective on Lennar in a research note on Monday, June 15th. UBS Group cut their target price on Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 16th. Keefe, Bruyette & Woods reduced their target price on Lennar from $86.00 to $85.00 and set an “underperform” rating for the company in a research note on Wednesday, June 17th. Wells Fargo & Company decreased their price target on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, June 15th. Finally, Zacks Research cut shares of Lennar from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat, Lennar currently has an average rating of “Reduce” and an average target price of $95.00.

Lennar Stock Down 0.1%

Shares of Lennar stock opened at $88.15 on Friday. The business has a 50-day moving average price of $89.38 and a 200 day moving average price of $99.56. Lennar Corporation has a fifty-two week low of $81.18 and a fifty-two week high of $144.24. The firm has a market cap of $21.24 billion, a P/E ratio of 13.80, a P/E/G ratio of 2.93 and a beta of 1.38. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19.

Lennar (NYSE:LEN) last released its earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The company had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $8.08 billion. During the same quarter last year, the business posted $1.81 EPS. Lennar’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Lennar Corporation will post 5.51 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, July 10th. Lennar’s payout ratio is currently 31.30%.

About Lennar

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.