Denali Advisors LLC Buys 199 Shares of Lennar Co. (NYSE:LEN)

Denali Advisors LLC increased its stake in shares of Lennar Co. (NYSE:LEN) by 3.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,626 shares of the construction company’s stock after acquiring an additional 199 shares during the period. Denali Advisors LLC’s holdings in Lennar were worth $843,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lyell Wealth Management LP increased its position in Lennar by 5.8% during the second quarter. Lyell Wealth Management LP now owns 75,838 shares of the construction company’s stock worth $11,366,000 after buying an additional 4,156 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Lennar by 12.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 293,924 shares of the construction company’s stock worth $44,050,000 after buying an additional 32,376 shares during the last quarter. Client 1ST Advisory Group LLC acquired a new position in Lennar during the second quarter worth approximately $216,000. Valley Wealth Managers Inc. acquired a new position in Lennar during the second quarter worth approximately $37,000. Finally, Oppenheimer & Co. Inc. increased its position in Lennar by 2.5% during the second quarter. Oppenheimer & Co. Inc. now owns 9,722 shares of the construction company’s stock worth $1,457,000 after buying an additional 233 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

LEN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price target on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Wells Fargo & Company upped their target price on Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Wedbush reaffirmed a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research report on Wednesday, September 11th. StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $164.00 target price (down previously from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $172.69.

Lennar Stock Performance

Lennar stock opened at $187.21 on Tuesday. Lennar Co. has a 12-month low of $102.90 and a 12-month high of $188.19. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $173.56 and its two-hundred day moving average price is $163.23. The stock has a market cap of $51.41 billion, a PE ratio of 12.73, a P/E/G ratio of 1.61 and a beta of 1.61.

Lennar (NYSE:LEN) last released its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.18. The company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. As a group, analysts expect that Lennar Co. will post 14.16 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, July 5th. Lennar’s dividend payout ratio (DPR) 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.