Institute for Wealth Management LLC. Sells 73 Shares of Lennar Co. (NYSE:LEN)

Institute for Wealth Management LLC. lowered its stake in Lennar Co. (NYSE:LEN) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,753 shares of the construction company’s stock after selling 73 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Lennar were worth $1,305,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. RFG Advisory LLC increased its stake in shares of Lennar by 2.1% in the 4th quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock valued at $573,000 after acquiring an additional 79 shares in the last quarter. Raymond James Trust N.A. increased its stake in Lennar by 2.3% during the 2nd quarter. Raymond James Trust N.A. now owns 4,144 shares of the construction company’s stock valued at $520,000 after purchasing an additional 93 shares in the last quarter. Merit Financial Group LLC increased its stake in Lennar by 2.6% during the 3rd quarter. Merit Financial Group LLC now owns 4,009 shares of the construction company’s stock valued at $450,000 after purchasing an additional 101 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in Lennar by 4.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,810 shares of the construction company’s stock valued at $315,000 after purchasing an additional 113 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in Lennar by 7.0% during the 3rd quarter. Ieq Capital LLC now owns 1,808 shares of the construction company’s stock valued at $203,000 after purchasing an additional 118 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Down 1.5 %

Shares of LEN opened at $150.18 on Friday. The business’s 50-day moving average price is $159.57 and its 200-day moving average price is $142.30. Lennar Co. has a twelve month low of $102.90 and a twelve month high of $172.59. The stock has a market cap of $41.80 billion, a PE ratio of 10.52, a P/E/G ratio of 1.42 and a beta of 1.53. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.36. Lennar had a return on equity of 15.90% and a net margin of 11.59%. The firm had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same period in the prior year, the business posted $2.12 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. On average, equities analysts forecast that Lennar Co. will post 14.46 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Tuesday, April 23rd. Lennar’s dividend payout ratio is presently 14.02%.

Analyst Ratings Changes

LEN has been the subject of a number of recent research reports. JMP Securities restated a “market outperform” rating and set a $170.00 price target on shares of Lennar in a research note on Friday, March 15th. Keefe, Bruyette & Woods boosted their price target on shares of Lennar from $175.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Oppenheimer restated a “market perform” rating on shares of Lennar in a research note on Friday, March 15th. Wells Fargo & Company upped their target price on shares of Lennar from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Lennar from $110.00 to $122.00 and gave the stock a “sell” rating in a research note on Thursday, March 14th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Lennar presently has a consensus rating of “Moderate Buy” and an average target price of $163.88.

Insider Activity

In related news, Director Amy Banse acquired 1,575 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were bought at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the transaction, the director now owns 11,859 shares in the company, valued at $1,861,863. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.36% of the company’s stock.

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.