Bogart Wealth LLC Increases Holdings in Lennar Corporation $LEN

Key Points

• Bogart Wealth LLC increased its holdings in Lennar Corporation by 4.3% during Q2, owning 58,698 shares worth approximately $6.49 million at the quarter's end.
• Lennar reported $2.29 earnings per share for the last quarter, surpassing estimates of $2.14, but its revenue of $8.81 billion fell short of the $9.01 billion consensus.
• The company declared a quarterly dividend of $0.50 per share, set to be paid on October 27th, which represents an annualized yield of 1.6%.

Bogart Wealth LLC boosted its position in Lennar Corporation (NYSE:LEN - Free Report) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,698 shares of the construction company's stock after buying an additional 2,400 shares during the quarter. Bogart Wealth LLC's holdings in Lennar were worth $6,493,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Lennar by 1.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,719 shares of the construction company's stock worth $886,000 after buying an additional 89 shares in the last quarter. NorthRock Partners LLC lifted its holdings in Lennar by 1.4% in the 1st quarter. NorthRock Partners LLC now owns 6,509 shares of the construction company's stock worth $747,000 after buying an additional 93 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Lennar by 1.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 8,841 shares of the construction company's stock worth $1,015,000 after buying an additional 95 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in Lennar by 2.3% in the 1st quarter. EP Wealth Advisors LLC now owns 4,782 shares of the construction company's stock worth $549,000 after buying an additional 107 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in Lennar by 8.4% in the 1st quarter. Mather Group LLC. now owns 1,517 shares of the construction company's stock worth $174,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Price Performance

Shares of NYSE:LEN opened at $125.78 on Monday. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $189.65. The firm has a 50-day simple moving average of $129.60 and a 200 day simple moving average of $116.77. The company has a market cap of $32.08 billion, a PE ratio of 12.43, a P/E/G ratio of 5.85 and a beta of 1.37.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The business had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $9.01 billion. During the same quarter in the prior year, the firm earned $3.90 EPS. The company's revenue for the quarter was down 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Lennar's dividend payout ratio is currently 19.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LEN shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Lennar in a report on Wednesday, October 8th. Wedbush restated a "neutral" rating and issued a $130.00 target price on shares of Lennar in a research note on Monday, September 22nd. JMP Securities upped their target price on shares of Lennar from $130.00 to $140.00 and gave the company a "market outperform" rating in a research note on Monday, September 22nd. Citigroup restated an "outperform" rating on shares of Lennar in a research note on Monday, September 22nd. Finally, Wells Fargo & Company cut their target price on shares of Lennar from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Lennar currently has a consensus rating of "Hold" and a consensus price target of $121.75.

About Lennar

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.

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