Stockman Wealth Management Inc. Has $6.69 Million Holdings in Lennar Corporation $LEN

Key Points

• Stockman Wealth Management Inc. increased its stake in Lennar Corporation by 3.9% during the second quarter, bringing its holdings to $6.69 million with a total of 60,512 shares.
• Lennar reported an EPS of $2.29 for the quarter, exceeding expectations, but its revenue of $8.81 billion fell short of the consensus estimate.
• The company announced a quarterly dividend of $0.50 per share, resulting in a 1.6% dividend yield for stockholders of record.

Stockman Wealth Management Inc. lifted its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,512 shares of the construction company's stock after purchasing an additional 2,292 shares during the period. Stockman Wealth Management Inc.'s holdings in Lennar were worth $6,693,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Secured Retirement Advisors LLC acquired a new position in shares of Lennar during the first quarter worth $926,000. Marks Group Wealth Management Inc lifted its holdings in shares of Lennar by 15.4% during the first quarter. Marks Group Wealth Management Inc now owns 2,183 shares of the construction company's stock worth $251,000 after purchasing an additional 292 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Lennar by 2.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 208,763 shares of the construction company's stock worth $23,962,000 after purchasing an additional 4,332 shares during the period. Turtle Creek Wealth Advisors LLC lifted its holdings in shares of Lennar by 24.8% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 42,041 shares of the construction company's stock worth $4,825,000 after purchasing an additional 8,357 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc lifted its holdings in shares of Lennar by 77.7% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company's stock worth $419,000 after purchasing an additional 1,596 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Price Performance

Shares of NYSE LEN opened at $126.08 on Friday. The firm's 50-day moving average price is $127.39 and its 200-day moving average price is $116.02. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $189.65. The firm has a market capitalization of $32.66 billion, a P/E ratio of 12.46, a P/E/G ratio of 5.64 and a beta of 1.33. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15.

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

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. Lennar's payout ratio is presently 19.76%.

Analyst Upgrades and Downgrades

LEN has been the topic of several recent analyst reports. Wedbush restated a "neutral" rating and issued a $130.00 target price on shares of Lennar in a report on Monday, September 22nd. UBS Group boosted their target price on shares of Lennar from $146.00 to $161.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Raymond James Financial lowered shares of Lennar from a "market perform" rating to an "underperform" rating in a report on Monday, September 22nd. Barclays dropped 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. Finally, The Goldman Sachs Group boosted their target price on shares of Lennar from $122.00 to $126.00 and gave the company a "neutral" rating in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Lennar currently has an average rating of "Hold" and an average price target of $123.75.

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.

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