Commonwealth Equity Services LLC Purchases 2,621 Shares of Lennar Co. (NYSE:LEN)

Commonwealth Equity Services LLC increased its position in Lennar Co. (NYSE:LEN) by 5.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 50,054 shares of the construction company’s stock after acquiring an additional 2,621 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Lennar were worth $6,826,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Moors & Cabot Inc. lifted its stake in shares of Lennar by 2.2% in the third quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock worth $577,000 after acquiring an additional 66 shares during the period. Centaurus Financial Inc. boosted its position in Lennar by 2.5% during the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock valued at $551,000 after acquiring an additional 71 shares during the last quarter. Commerce Bank grew its stake in Lennar by 0.5% during the third quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock worth $2,826,000 after purchasing an additional 74 shares during the period. Armstrong Advisory Group Inc. grew its position in shares of Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after buying an additional 75 shares during the period. Finally, Wolff Wiese Magana LLC increased its stake in shares of Lennar by 51.0% in the 4th quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock valued at $32,000 after acquiring an additional 79 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Tuesday. Bank of America decreased their target price on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays cut their price target on Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Keefe, Bruyette & Woods downgraded Lennar from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $152.00 to $141.00 in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. cut their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Fourteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $164.53.

Lennar Stock Down 4.1 %

Shares of NYSE:LEN opened at $115.09 on Friday. The company has a market capitalization of $30.56 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. Lennar Co. has a 1 year low of $111.26 and a 1 year high of $187.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The business has a fifty day moving average price of $126.09 and a two-hundred day moving average price of $153.48.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter last year, the company posted $2.57 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Analysts forecast that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.74%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is 13.95%.

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.