Oppenheimer Asset Management Inc. Boosts Holdings in Lennar Corporation (NYSE:LEN)

Oppenheimer Asset Management Inc. grew its position in shares of Lennar Corporation (NYSE:LEN - Free Report) by 88.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 389,100 shares of the construction company's stock after buying an additional 182,588 shares during the period. Oppenheimer Asset Management Inc. owned 0.15% of Lennar worth $44,661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LEN. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Lennar by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 208,763 shares of the construction company's stock worth $23,962,000 after acquiring an additional 4,332 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Lennar by 35.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,695 shares of the construction company's stock valued at $309,000 after buying an additional 710 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Lennar by 10.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,377 shares of the construction company's stock worth $1,006,000 after buying an additional 672 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Lennar by 29.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 82,572 shares of the construction company's stock valued at $11,246,000 after acquiring an additional 18,800 shares during the period. Finally, Candriam S.C.A. increased its holdings in Lennar by 47.9% during the 4th quarter. Candriam S.C.A. now owns 17,649 shares of the construction company's stock worth $2,407,000 after acquiring an additional 5,718 shares during the period. Institutional investors own 81.10% of the company's stock.

Lennar Stock Up 0.1%

Shares of NYSE LEN traded up $0.10 on Thursday, reaching $109.87. 2,334,145 shares of the company's stock traded hands, compared to its average volume of 2,676,267. The business's 50 day simple moving average is $108.26 and its two-hundred day simple moving average is $120.10. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $187.61. The company has a market cap of $28.98 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 4.41 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 posted its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.04). The company had revenue of $8.38 billion during the quarter, compared to analysts' expectations of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%. The business's quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.45 EPS. As a group, equities research analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Thursday, July 3rd. Lennar's dividend payout ratio is currently 16.54%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LEN. Bank of America reduced their price target on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. UBS Group lowered their price target on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. JMP Securities cut their price objective on Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a report on Friday, June 20th. Keefe, Bruyette & Woods decreased their price objective on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a research report on Friday, June 20th. Finally, Zelman & Associates cut Lennar from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lennar presently has a consensus rating of "Hold" and a consensus target price of $132.50.

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.