DAVENPORT & Co LLC Purchases 21,475 Shares of Lennar Corporation $LEN

DAVENPORT & Co LLC raised its position in Lennar Corporation (NYSE:LEN - Free Report) by 862.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,966 shares of the construction company's stock after acquiring an additional 21,475 shares during the period. DAVENPORT & Co LLC's holdings in Lennar were worth $2,651,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of LEN. Brighton Jones LLC boosted its position in shares of Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock worth $236,000 after purchasing an additional 377 shares in the last quarter. NBC Securities Inc. acquired a new stake in Lennar in the first quarter worth about $33,000. Wedmont Private Capital boosted its holdings in Lennar by 13.3% in the first quarter. Wedmont Private Capital now owns 4,497 shares of the construction company's stock worth $473,000 after acquiring an additional 528 shares in the last quarter. Portside Wealth Group LLC boosted its holdings in Lennar by 32.4% in the first quarter. Portside Wealth Group LLC now owns 2,764 shares of the construction company's stock worth $317,000 after acquiring an additional 677 shares in the last quarter. Finally, Accurate Wealth Management LLC boosted its stake in Lennar by 33.8% in the 1st quarter. Accurate Wealth Management LLC now owns 6,430 shares of the construction company's stock worth $677,000 after purchasing an additional 1,624 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Trading Down 1.7%

Shares of NYSE:LEN opened at $120.11 on Thursday. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $189.65. The company has a market capitalization of $31.11 billion, a PE ratio of 11.87, a PEG ratio of 5.47 and a beta of 1.37. The business has a 50 day moving average of $129.19 and a two-hundred day moving average of $116.47. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15.

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

Lennar Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, October 10th. Lennar's dividend payout ratio is 19.76%.

Analysts Set New Price Targets

LEN has been the subject of a number of recent analyst reports. Royal Bank Of Canada lifted their target price on shares of Lennar from $98.00 to $106.00 and gave the stock a "sector perform" rating in a research note on Monday, September 22nd. Zacks Research raised shares of Lennar from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. Wells Fargo & Company lifted their price target on Lennar from $110.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 2nd. Evercore ISI lowered their price target on Lennar from $118.00 to $114.00 and set an "in-line" rating for the company in a research report on Tuesday. Finally, Barclays decreased their target price on Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $123.42.

Lennar 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.

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