Lennar Co. (NYSE:LEN) Stock Position Raised by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its holdings in Lennar Co. (NYSE:LEN) by 53.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,216 shares of the construction company’s stock after purchasing an additional 6,712 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Lennar were worth $3,603,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LEN. Oakworth Capital Inc. purchased a new stake in Lennar in the 3rd quarter worth about $27,000. Wolff Wiese Magana LLC boosted its holdings in shares of Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares during the period. J.Safra Asset Management Corp purchased a new position in Lennar during the first quarter valued at approximately $30,000. New Covenant Trust Company N.A. purchased a new stake in Lennar in the 1st quarter worth approximately $32,000. Finally, Asset Dedication LLC grew its holdings in shares of Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after acquiring an additional 169 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LEN shares. Bank Of America (Bofa) lifted their price objective on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Bank of America lifted their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. JMP Securities increased their price objective on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada increased their price target on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $181.11.

Lennar Stock Performance

NYSE LEN opened at $175.94 on Friday. The company’s fifty day moving average is $181.94 and its two-hundred day moving average is $167.02. The firm has a market capitalization of $48.31 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.68 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $193.80.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.91 EPS. Equities research analysts forecast that Lennar Co. will post 14.28 EPS for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio is 13.60%.

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.