Kestra Private Wealth Services LLC Reduces Stake in Lennar Co. (NYSE:LEN)

Kestra Private Wealth Services LLC reduced its position in Lennar Co. (NYSE:LEN) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,737 shares of the construction company’s stock after selling 158 shares during the period. Kestra Private Wealth Services LLC’s holdings in Lennar were worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of LEN. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Lennar during the third quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new position in Lennar during the third quarter valued at $28,000. BluePath Capital Management LLC purchased a new position in Lennar during the third quarter valued at $29,000. Criterion Capital Advisors LLC purchased a new position in Lennar during the fourth quarter valued at $36,000. Finally, NBC Securities Inc. purchased a new position in Lennar during the third quarter valued at $56,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on Lennar from $161.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. UBS Group lifted their target price on Lennar from $190.00 to $198.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Keefe, Bruyette & Woods lifted their target price on Lennar from $175.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Wells Fargo & Company boosted their price objective on Lennar from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, Oppenheimer reissued a “market perform” rating on shares of Lennar 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Lennar has a consensus rating of “Moderate Buy” and an average price target of $163.88.

Lennar Stock Up 0.0 %

Shares of NYSE:LEN opened at $161.10 on Wednesday. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $172.59. The business has a 50 day simple moving average of $160.08 and a two-hundred day simple moving average of $146.69. The firm has a market capitalization of $44.84 billion, a PE ratio of 11.29, a price-to-earnings-growth 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 (NYSE:LEN) last announced its earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.36. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.39 billion. Lennar had a return on equity of 15.90% and a net margin of 11.59%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.12 earnings per share. On average, equities analysts predict that Lennar Co. will post 14.46 EPS for the current year.

Lennar Dividend Announcement

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 issued a $0.50 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.24%. Lennar’s payout ratio is 14.02%.

Insider Activity at Lennar

In other news, Director Amy Banse purchased 1,575 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average price of $157.00 per share, for a total transaction 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.36% of the stock is owned by company insiders.

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.