Secured Retirement Advisors LLC Has $1.14 Million Position in Lennar Corporation $LEN

Key Points

• Secured Retirement Advisors LLC increased its stake in Lennar Corporation by 27.9% during the second quarter, holding a total of 10,315 shares valued at approximately $1.14 million.
• Despite a strong earnings performance with an EPS of $2.29, Lennar reported a 6.4% decline in quarterly revenue year-over-year, totaling $8.81 billion.
• Analysts have varied ratings for Lennar, with a consensus rating of "Hold" and a target price averaging $123.42 as multiple firms adjust their price objectives following recent earnings.

Secured Retirement Advisors LLC grew its position in Lennar Corporation (NYSE:LEN - Free Report) by 27.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,315 shares of the construction company's stock after buying an additional 2,247 shares during the quarter. Secured Retirement Advisors LLC's holdings in Lennar were worth $1,141,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in Lennar during the first quarter worth about $30,000. NBC Securities Inc. acquired a new position in Lennar during the 1st quarter worth approximately $33,000. Disciplina Capital Management LLC increased its holdings in shares of Lennar by 179.8% during the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock worth $38,000 after buying an additional 214 shares in the last quarter. Oakworth Capital Inc. increased its holdings in shares of Lennar by 139.9% during the first quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock worth $39,000 after buying an additional 200 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Lennar during the first quarter worth $44,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on LEN. The Goldman Sachs Group upped their price objective on Lennar from $122.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, September 23rd. JMP Securities upped their price target on shares of Lennar from $130.00 to $140.00 and gave the company a "market outperform" rating in a research report on Monday, September 22nd. JPMorgan Chase & Co. decreased their price target on shares of Lennar from $97.00 to $92.00 and set a "neutral" rating for the company in a research report on Monday, September 22nd. Wells Fargo & Company increased their price objective on Lennar from $110.00 to $135.00 and gave the company an "equal weight" rating in a report on Tuesday, September 2nd. Finally, Keefe, Bruyette & Woods decreased their price objective on Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a report on Friday, June 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lennar currently has a consensus rating of "Hold" and a consensus target price of $123.42.

Lennar Stock Performance

Shares of LEN stock opened at $122.14 on Wednesday. The company has a market cap of $31.63 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 5.66 and a beta of 1.37. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $189.65. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $129.04 and a 200-day moving average of $116.45.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.15. The business had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The business's quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the company posted $3.90 earnings per share. On average, equities analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, October 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Lennar's dividend payout ratio (DPR) is 19.76%.

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.

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