Arkadios Wealth Advisors Purchases 2,424 Shares of Lennar Corporation (NYSE:LEN)

Key Points

• Arkadios Wealth Advisors significantly increased its stake in Lennar Corporation, acquiring 2,424 additional shares and raising its ownership to 4,340 shares valued at approximately $498,000.
• Lennar's latest earnings report revealed a miss in EPS at $1.90, compared to a consensus estimate of $1.94, though revenue was higher than expected at $8.38 billion.
• The company declared a quarterly dividend of $0.50 per share with a 1.7% yield, reflecting a dividend payout ratio of 16.54%.

Arkadios Wealth Advisors raised its position in Lennar Corporation (NYSE:LEN - Free Report) by 126.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,340 shares of the construction company's stock after buying an additional 2,424 shares during the period. Arkadios Wealth Advisors' holdings in Lennar were worth $498,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TCTC Holdings LLC boosted its position in Lennar by 103.6% in the first quarter. TCTC Holdings LLC now owns 910 shares of the construction company's stock valued at $104,000 after buying an additional 463 shares in the last quarter. Picton Mahoney Asset Management raised its stake in shares of Lennar by 22.0% in the first quarter. Picton Mahoney Asset Management now owns 61,796 shares of the construction company's stock worth $7,093,000 after acquiring an additional 11,163 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Lennar by 65.5% in the first quarter. Foundations Investment Advisors LLC now owns 2,803 shares of the construction company's stock worth $322,000 after acquiring an additional 1,109 shares during the last quarter. Bellwether Advisors LLC grew its position in shares of Lennar by 4,265.0% during the 1st quarter. Bellwether Advisors LLC now owns 15,845 shares of the construction company's stock worth $1,819,000 after buying an additional 15,482 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Lennar by 6.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,493 shares of the construction company's stock worth $6,140,000 after buying an additional 3,398 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Down 0.5%

LEN traded down $0.66 during trading hours on Wednesday, hitting $119.44. 2,507,513 shares of the company's stock were exchanged, compared to its average volume of 3,169,272. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $193.80. The stock's 50-day moving average is $111.15 and its two-hundred day moving average is $114.68. The stock has a market cap of $30.94 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 5.04 and a beta of 1.29. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business's revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.45 EPS. Sell-side analysts predict that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is currently 16.54%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LEN shares. Royal Bank Of Canada reduced their price objective on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a research note on Wednesday, June 18th. JMP Securities decreased their price objective on Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a research note on Friday, June 20th. Bank of America cut their target price on Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 18th. Wall Street Zen cut Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Finally, Wells Fargo & Company lowered their target price 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 given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Lennar currently has an average rating of "Hold" and an average price target of $128.85.

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.