Lennar Co. (NYSE:LEN) Holdings Lowered by Precision Wealth Strategies LLC

Precision Wealth Strategies LLC reduced its holdings in Lennar Co. (NYSE:LEN) by 4.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,451 shares of the construction company’s stock after selling 113 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Lennar were worth $460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LEN. Wolff Wiese Magana LLC raised its holdings in shares of Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Lennar during the first quarter valued at approximately $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Lennar during the first quarter valued at approximately $32,000. Asset Dedication LLC raised its holdings in shares of Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after acquiring an additional 169 shares during the period. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Lennar during the first quarter valued at approximately $35,000. 81.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Bank of America boosted their price objective on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, Wedbush reaffirmed a “neutral” rating and set a $144.00 price objective on shares of Lennar in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lennar presently has an average rating of “Hold” and an average target price of $181.11.

Lennar Price Performance

Shares of Lennar stock opened at $180.63 on Tuesday. The firm has a fifty day simple moving average of $181.81 and a 200-day simple moving average of $166.93. 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 Co. has a 1-year low of $102.90 and a 1-year high of $193.80. The stock has a market capitalization of $49.60 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.68 and a beta of 1.61.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same period in the previous year, the company earned $3.91 earnings per share. Lennar’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts expect that Lennar Co. will post 14.28 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, October 9th. Lennar’s payout ratio is currently 13.60%.

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.