Kestra Advisory Services LLC Purchases 6,876 Shares of Lennar Corporation $LEN

Key Points

• Kestra Advisory Services LLC increased its stake in Lennar Corporation (NYSE: LEN) by 40.7%, holding 23,785 shares valued at $2.73 million as of its latest SEC filing.
• Lennar reported a quarterly EPS of $1.90, missing the consensus estimate of $1.94, with revenue of $8.38 billion for the quarter, which is a year-over-year decrease of 4.4%.
• The company announced a quarterly dividend of $0.50 per share, resulting in an annualized yield of 1.5% and a payout ratio of 16.54%.

Kestra Advisory Services LLC raised its position in Lennar Corporation (NYSE:LEN - Free Report) by 40.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,785 shares of the construction company's stock after buying an additional 6,876 shares during the period. Kestra Advisory Services LLC's holdings in Lennar were worth $2,730,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Secured Retirement Advisors LLC purchased a new stake in Lennar in the 1st quarter valued at about $926,000. Marks Group Wealth Management Inc increased its stake in Lennar by 15.4% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,183 shares of the construction company's stock valued at $251,000 after buying an additional 292 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Lennar by 2.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 208,763 shares of the construction company's stock valued at $23,962,000 after buying an additional 4,332 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its stake in Lennar by 24.8% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 42,041 shares of the construction company's stock valued at $4,825,000 after buying an additional 8,357 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc increased its stake in Lennar by 77.7% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company's stock valued at $419,000 after buying an additional 1,596 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Stock Performance

LEN traded up $0.15 on Monday, hitting $133.28. The company's stock had a trading volume of 1,846,892 shares, compared to its average volume of 3,105,015. The company's 50 day simple moving average is $118.89 and its 200-day simple moving average is $114.45. The firm has a market cap of $34.52 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 5.65 and a beta of 1.33. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $193.80. 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 released its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate 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 return on equity of 12.73% and a net margin of 9.20%.The firm's quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business posted $3.45 earnings per share. Analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is presently 16.54%.

Analysts Set New Price Targets

Several equities research analysts have commented on LEN shares. Keefe, Bruyette & Woods decreased 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 note on Friday, June 20th. JMP Securities decreased their price target on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a research note on Friday, June 20th. Royal Bank Of Canada decreased their price target on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research note on Wednesday, June 18th. Wall Street Zen lowered shares of Lennar from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Finally, Evercore ISI decreased their price target on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating for the company 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 fourteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $128.85.

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.