Fifth Third Wealth Advisors LLC Cuts Stock Holdings in Lennar Corporation $LEN

Fifth Third Wealth Advisors LLC trimmed its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 59.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,772 shares of the construction company's stock after selling 6,899 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Lennar were worth $528,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LEN. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Lennar by 1.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,719 shares of the construction company's stock valued at $886,000 after purchasing an additional 89 shares during the last quarter. NorthRock Partners LLC grew its position 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 purchasing an additional 93 shares during the period. Valeo Financial Advisors LLC grew its position 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 purchasing an additional 95 shares during the period. EP Wealth Advisors LLC boosted its stake in shares of Lennar by 2.3% during the 1st quarter. EP Wealth Advisors LLC now owns 4,782 shares of the construction company's stock worth $549,000 after acquiring an additional 107 shares during the last quarter. Finally, Mather Group LLC. boosted its stake in shares of Lennar by 8.4% during the 1st quarter. Mather Group LLC. now owns 1,517 shares of the construction company's stock worth $174,000 after acquiring an additional 117 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LEN has been the subject of several recent analyst reports. Evercore ISI dropped their target price on shares of Lennar from $118.00 to $114.00 and set an "in-line" rating for the company in a report on Tuesday, October 7th. Raymond James Financial cut shares of Lennar from a "market perform" rating to an "underperform" rating in a research report on Monday, September 22nd. Keefe, Bruyette & Woods cut their price target on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a report on Friday, June 20th. Royal Bank Of Canada upped their price target on shares of Lennar from $98.00 to $106.00 and gave the company a "sector perform" rating in a report on Monday, September 22nd. Finally, Zacks Research downgraded shares of Lennar from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $121.75.

Lennar Trading Up 0.8%

Shares of Lennar stock opened at $118.85 on Monday. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $189.65. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The firm has a fifty day moving average price of $129.36 and a 200 day moving average price of $116.46. The stock has a market cap of $30.31 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 5.32 and a beta of 1.37.

Lennar (NYSE:LEN - Get Free Report) last released 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 company had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $9.01 billion. During the same quarter in the previous year, the company earned $3.90 earnings per share. The firm's revenue for the quarter was down 6.4% on a year-over-year basis. Equities research analysts predict that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be given a $0.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.7%. Lennar's dividend payout ratio (DPR) is 19.76%.

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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