GC Wealth Management RIA LLC Invests $447,000 in Lennar Corporation $LEN

Key Points

• GC Wealth Management RIA LLC invested approximately $447,000 in Lennar Corporation by acquiring 4,042 shares during the 2nd quarter.
• Lennar's quarterly earnings report showed earnings per share of $2.29, beating estimates, but revenue was down 6.4% year-over-year.
• The company announced a $0.50 quarterly dividend, resulting in an annualized dividend yield of 1.6%, set to be paid on October 27th.

GC Wealth Management RIA LLC acquired a new position in shares of Lennar Corporation (NYSE:LEN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,042 shares of the construction company's stock, valued at approximately $447,000.

Several other institutional investors have also modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new position in shares of Lennar in the 1st quarter valued at $30,000. NBC Securities Inc. acquired a new position in shares of Lennar in the 1st quarter valued at $33,000. Disciplina Capital Management LLC increased its holdings in shares of Lennar by 179.8% in the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock valued at $38,000 after acquiring an additional 214 shares during the period. Oakworth Capital Inc. increased its holdings in shares of Lennar by 139.9% in the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock valued at $39,000 after acquiring an additional 200 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in shares of Lennar in the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LEN shares. Evercore ISI lifted their target price on shares of Lennar from $114.00 to $118.00 and gave the company an "in-line" rating in a report on Monday, September 22nd. Barclays dropped their price objective on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $97.00 to $92.00 and set a "neutral" rating on the stock in a research note on Monday, September 22nd. Bank of America boosted their price objective on shares of Lennar from $115.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, September 18th. Finally, Wall Street Zen cut shares of Lennar from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $123.75.

Lennar Stock Down 1.3%

Shares of NYSE:LEN opened at $126.07 on Wednesday. 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 52-week low of $98.42 and a 52-week high of $189.65. The company has a 50 day moving average of $127.91 and a two-hundred day moving average of $116.15. The company has a market capitalization of $32.65 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 5.71 and a beta of 1.33.

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 (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $9.01 billion. During the same quarter last year, the company earned $3.90 earnings per share. Lennar's revenue for the quarter was down 6.4% on a year-over-year basis. As a group, analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

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

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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