Secured Retirement Advisors LLC Purchases New Holdings in Lennar Corporation (NYSE:LEN)

Secured Retirement Advisors LLC purchased a new position in Lennar Corporation (NYSE:LEN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,068 shares of the construction company's stock, valued at approximately $926,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hurley Capital LLC purchased a new stake in shares of Lennar in the fourth quarter valued at $26,000. Ameriflex Group Inc. acquired a new stake in Lennar in the 4th quarter worth about $30,000. Opal Wealth Advisors LLC purchased a new stake in Lennar in the 1st quarter valued at about $30,000. NBC Securities Inc. acquired a new position in shares of Lennar during the 1st quarter valued at about $33,000. Finally, Franchise Capital Ltd purchased a new position in shares of Lennar during the 1st quarter worth about $38,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Stock Performance

Lennar stock traded down $2.40 on Friday, reaching $114.04. 2,643,984 shares of the stock were exchanged, compared to its average volume of 2,726,912. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $187.61. The firm has a fifty day moving average price of $109.35 and a two-hundred day moving average price of $117.25. The stock has a market cap of $30.08 billion, a PE ratio of 9.43, a PEG ratio of 4.84 and a beta of 1.33.

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 for the quarter, missing the consensus estimate of $1.94 by ($0.04). The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%. Lennar's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.45 EPS. Sell-side analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, July 3rd. Lennar's payout ratio is currently 16.54%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LEN shares. Wedbush reissued a "neutral" rating and set a $130.00 price objective on shares of Lennar in a research note on Wednesday, June 18th. Bank of America dropped their price target on Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, June 18th. UBS Group reduced their price target on shares of Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Wall Street Zen lowered shares of Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Finally, Barclays reduced their target price on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lennar has an average rating of "Hold" and an average target price of $128.85.

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.