Atria Wealth Solutions Inc. Grows Stake in Lennar Co. (NYSE:LEN)

Atria Wealth Solutions Inc. boosted its holdings in shares of Lennar Co. (NYSE:LEN) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,704 shares of the construction company’s stock after buying an additional 375 shares during the period. Atria Wealth Solutions Inc.’s holdings in Lennar were worth $552,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LEN. Wedge Capital Management L L P NC grew its holdings in shares of Lennar by 11.7% during the fourth quarter. Wedge Capital Management L L P NC now owns 325,796 shares of the construction company’s stock worth $48,557,000 after purchasing an additional 34,079 shares in the last quarter. RWA Wealth Partners LLC bought a new position in Lennar in the fourth quarter valued at $255,000. Monument Capital Management purchased a new stake in Lennar during the fourth quarter valued at about $214,000. Jennison Associates LLC boosted its holdings in shares of Lennar by 97.4% in the 4th quarter. Jennison Associates LLC now owns 354,711 shares of the construction company’s stock worth $52,866,000 after purchasing an additional 174,981 shares in the last quarter. Finally, Duality Advisers LP bought a new position in shares of Lennar during the 4th quarter valued at about $6,132,000. 81.10% of the stock is currently owned by institutional investors.

Insider Activity at Lennar

In other news, Director Amy Banse bought 1,575 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was acquired at an average cost of $157.00 per share, with a total value of $247,275.00. Following the completion of the acquisition, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on LEN shares. Wells Fargo & Company upped their target price on Lennar from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. decreased their target price on shares of Lennar from $161.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. JMP Securities reaffirmed a “market outperform” rating and set a $170.00 price objective on shares of Lennar in a research note on Friday, March 15th. Keefe, Bruyette & Woods boosted their target price on Lennar from $175.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Finally, Evercore ISI lifted their price target on Lennar from $224.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $163.88.

Lennar Trading Up 1.9 %

NYSE:LEN opened at $158.10 on Monday. The firm has a market capitalization of $44.01 billion, a P/E ratio of 11.08, a PEG ratio of 1.48 and a beta of 1.55. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.47 and a quick ratio of 1.27. Lennar Co. has a one year low of $102.90 and a one year high of $172.59. The company’s 50-day simple moving average is $159.80 and its 200 day simple moving average is $145.88.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.36. The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.39 billion. Lennar had a return on equity of 15.90% and a net margin of 11.59%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 EPS. As a group, analysts forecast that Lennar Co. will post 14.46 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lennar’s payout ratio is 14.02%.

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.