Lennar Corporation (NYSE:LEN) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in Lennar Corporation (NYSE:LEN - Free Report) by 2.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 208,763 shares of the construction company's stock after purchasing an additional 4,332 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.08% of Lennar worth $23,962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in LEN. Hurley Capital LLC purchased a new stake in Lennar in the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. purchased a new stake in Lennar in the 4th quarter valued at about $28,000. Ameriflex Group Inc. purchased a new stake in shares of Lennar during the 4th quarter worth about $30,000. NBC Securities Inc. purchased a new stake in shares of Lennar during the 1st quarter worth about $33,000. Finally, Franchise Capital Ltd purchased a new stake in shares of Lennar during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Up 2.9%

Shares of LEN traded up $2.95 during trading on Friday, reaching $106.36. The company's stock had a trading volume of 5,779,425 shares, compared to its average volume of 2,669,522. The company has a fifty day moving average of $107.78 and a two-hundred day moving average of $120.99. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $187.61. The company has a market cap of $28.06 billion, a price-to-earnings ratio of 8.80, a P/E/G ratio of 4.12 and a beta of 1.34. 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 announced its earnings results 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 analyst estimates of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.45 earnings per share. On average, sell-side analysts predict that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, July 3rd. Lennar's dividend payout ratio is currently 16.54%.

Analyst Upgrades and Downgrades

LEN has been the subject of a number of research reports. JMP Securities decreased their target price on Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a report on Friday. Evercore ISI decreased their target price on Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a report on Wednesday. Bank of America decreased their target price on Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday. Seaport Res Ptn upgraded Lennar from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Finally, Wedbush reissued a "neutral" rating and set a $130.00 price target on shares of Lennar in a research report on Wednesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.