Apollon Wealth Management LLC cut its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 28.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,371 shares of the construction company's stock after selling 3,318 shares during the period. Apollon Wealth Management LLC's holdings in Lennar were worth $961,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LEN. Brighton Jones LLC boosted its position in Lennar by 27.9% in the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock valued at $236,000 after buying an additional 377 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in shares of Lennar by 4.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,092 shares of the construction company's stock worth $694,000 after buying an additional 237 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Lennar by 5.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 50,054 shares of the construction company's stock valued at $6,826,000 after purchasing an additional 2,621 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Lennar by 10.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,377 shares of the construction company's stock valued at $1,006,000 after buying an additional 672 shares during the period. Finally, Cibc World Markets Corp boosted its holdings in Lennar by 14.9% during the fourth quarter. Cibc World Markets Corp now owns 37,654 shares of the construction company's stock worth $5,135,000 after purchasing an additional 4,889 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.
Lennar Trading Up 0.3%
LEN opened at $109.80 on Friday. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $187.61. The stock has a market capitalization of $28.44 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 4.65 and a beta of 1.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. The business has a fifty day moving average price of $109.50 and a 200 day moving average price of $116.63.
Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). The company had revenue of $8.38 billion for the quarter, compared to analysts' expectations of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The firm's revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.45 earnings per share. Sell-side analysts expect that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.
Lennar Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be issued a $0.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.00 annualized dividend and a yield of 1.82%. Lennar's dividend payout ratio is currently 16.54%.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on LEN. Evercore ISI dropped their price objective on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating on the stock in a research report on Wednesday, June 18th. Wedbush restated a "neutral" rating and issued a $130.00 price target on shares of Lennar in a research note on Wednesday, June 18th. Wall Street Zen downgraded shares of Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Bank of America lowered their price target on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Lennar from $120.00 to $110.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lennar currently has an average rating of "Hold" and an average price target of $128.85.
Get Our Latest Report on Lennar
Lennar Company Profile
(
Free Report)
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.
Further Reading

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