3,690 Shares in Lennar Corporation (NYSE:LEN) Acquired by Simon Quick Advisors LLC

Simon Quick Advisors LLC acquired a new stake in Lennar Corporation (NYSE:LEN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,690 shares of the construction company's stock, valued at approximately $424,000.

Other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas boosted its position in Lennar by 49.4% during the 1st quarter. USA Financial Formulas now owns 644 shares of the construction company's stock valued at $74,000 after acquiring an additional 213 shares in the last quarter. CX Institutional boosted its position in shares of Lennar by 20.0% during the first quarter. CX Institutional now owns 12,914 shares of the construction company's stock valued at $1,482,000 after purchasing an additional 2,156 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services raised its holdings in Lennar by 38.0% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 24,115 shares of the construction company's stock worth $2,768,000 after purchasing an additional 6,636 shares in the last quarter. Accurate Wealth Management LLC lifted its position in Lennar by 33.8% during the first quarter. Accurate Wealth Management LLC now owns 6,430 shares of the construction company's stock valued at $677,000 after buying an additional 1,624 shares during the period. Finally, Portside Wealth Group LLC boosted its holdings in shares of Lennar by 32.4% during the 1st quarter. Portside Wealth Group LLC now owns 2,764 shares of the construction company's stock valued at $317,000 after buying an additional 677 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Barclays dropped their target price on Lennar from $121.00 to $110.00 and set an "equal weight" rating on the stock in a report on Monday, March 24th. Wells Fargo & Company cut their price objective on shares of Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods dropped their target price on shares of Lennar from $141.00 to $128.00 and set a "market perform" rating on the stock in a research note on Tuesday, March 25th. Seaport Res Ptn raised shares of Lennar from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group lowered their price objective on Lennar from $141.00 to $120.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 25th. Fifteen investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Lennar presently has an average rating of "Hold" and a consensus price target of $150.07.

Lennar Trading Down 4.4%

Shares of Lennar stock traded down $4.84 during trading hours on Tuesday, hitting $104.65. The company's stock had a trading volume of 8,172,753 shares, compared to its average volume of 2,668,894. The stock has a market cap of $27.61 billion, a price-to-earnings ratio of 8.66, a P/E/G ratio of 2.96 and a beta of 1.33. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.68 and a current ratio of 3.42. 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 of $107.89 and a 200-day moving average of $122.70.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a return on equity of 12.32% and a net margin of 9.20%. The firm had revenue of $8.38 billion for the quarter, compared to analysts' expectations of $8.21 billion. During the same quarter in the prior year, the business earned $3.45 earnings per share. The company's quarterly revenue was down 4.4% on a year-over-year basis. Research analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.91%. Lennar's dividend payout ratio is presently 14.57%.

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.