Integrated Wealth Concepts LLC Buys 6,655 Shares of Lennar Corporation $LEN

Key Points

• Integrated Wealth Concepts LLC increased its stake in Lennar Corporation by 28.1%, totaling 30,349 shares valued at $3,483,000 as reported in its latest SEC filing.
• Lennar reported $1.90 earnings per share for the latest quarter, missing estimates by 4 cents, with revenues of $8.38 billion, exceeding expectations.
• The company declared a quarterly dividend of $0.50, with a 1.4% dividend yield, and a payout ratio of 16.54%.

Integrated Wealth Concepts LLC lifted its stake in Lennar Corporation (NYSE:LEN - Free Report) by 28.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,349 shares of the construction company's stock after buying an additional 6,655 shares during the period. Integrated Wealth Concepts LLC's holdings in Lennar were worth $3,483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ameriflex Group Inc. acquired a new stake in shares of Lennar during the 4th quarter worth $30,000. Opal Wealth Advisors LLC acquired a new stake in Lennar during the first quarter worth about $30,000. NBC Securities Inc. bought a new position in Lennar in the 1st quarter valued at about $33,000. Franchise Capital Ltd acquired a new position in shares of Lennar in the 1st quarter valued at approximately $38,000. Finally, Disciplina Capital Management LLC lifted its holdings in shares of Lennar by 179.8% during the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock worth $38,000 after acquiring an additional 214 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Down 1.6%

Lennar stock traded down $2.20 during trading hours on Friday, hitting $137.89. The stock had a trading volume of 1,749,414 shares, compared to its average volume of 3,153,176. The business's 50 day simple moving average is $123.53 and its 200-day simple moving average is $115.51. Lennar Corporation has a one year low of $98.42 and a one year high of $193.80. The stock has a market cap of $35.71 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 5.80 and a beta of 1.33. 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 issued its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). The business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.45 EPS. On average, equities analysts predict that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were given a dividend of $0.50 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. Lennar's dividend payout ratio is presently 16.54%.

Analysts Set New Price Targets

LEN has been the subject of several research analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research report on Friday, June 20th. Wall Street Zen cut Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Wedbush reaffirmed a "neutral" rating and issued a $130.00 price objective on shares of Lennar in a research note on Wednesday, June 18th. Bank of America decreased their target price on Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Finally, UBS Group reduced their price target on shares of Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $130.77.

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.