Moran Wealth Management LLC Reduces Stake in Lennar Corporation (NYSE:LEN)

Moran Wealth Management LLC lowered its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 90.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,240 shares of the construction company's stock after selling 49,909 shares during the period. Moran Wealth Management LLC's holdings in Lennar were worth $601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of LEN. Hurley Capital LLC purchased a new position in Lennar during the fourth quarter worth $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Lennar during the fourth quarter valued at $28,000. Ameriflex Group Inc. purchased a new stake in shares of Lennar during the fourth quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Lennar during the first quarter valued at $30,000. Finally, NBC Securities Inc. purchased a new stake in shares of Lennar during the first quarter valued at $33,000. Institutional investors own 81.10% of the company's stock.

Analyst Ratings Changes

LEN has been the subject of a number of recent analyst reports. Wedbush reissued a "neutral" rating and set a $130.00 target price on shares of Lennar in a research note on Wednesday, June 18th. UBS Group lowered their target price on shares of Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. Keefe, Bruyette & Woods lowered their target price 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. The Goldman Sachs Group lowered their target price on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. Finally, JMP Securities decreased 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. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $132.50.

Lennar Stock Up 0.5%

Shares of LEN traded up $0.53 during mid-day trading on Friday, hitting $110.34. 4,287,289 shares of the company traded hands, compared to its average volume of 2,682,686. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $187.61. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $29.11 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 4.41 and a beta of 1.33. The business has a 50 day moving average of $108.26 and a 200 day moving average of $120.10.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. During the same quarter last year, the company earned $3.45 EPS. The business's revenue was down 4.4% compared to the same quarter last year. Equities research analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a $0.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.81%. Lennar's dividend payout ratio is currently 16.54%.

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.