Oppenheimer & Co. Inc. Buys 233 Shares of Lennar Co. (NYSE:LEN)

Oppenheimer & Co. Inc. boosted its holdings in Lennar Co. (NYSE:LEN) by 2.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,722 shares of the construction company’s stock after purchasing an additional 233 shares during the period. Oppenheimer & Co. Inc.’s holdings in Lennar were worth $1,457,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Rise Advisors LLC increased its position in shares of Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after purchasing an additional 121 shares during the period. J.Safra Asset Management Corp bought a new stake in Lennar in the first quarter valued at approximately $30,000. New Covenant Trust Company N.A. acquired a new position in shares of Lennar in the 1st quarter valued at approximately $32,000. Redmont Wealth Advisors LLC bought a new stake in Lennar in the 1st quarter valued at $35,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Lennar by 223.6% during the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after buying an additional 161 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LEN. Raymond James downgraded shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Wells Fargo & Company raised their target price on shares of Lennar from $195.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. JPMorgan Chase & Co. lowered their target price on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Wedbush reiterated a “neutral” rating and set a $144.00 price target on shares of Lennar in a research report on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $172.69.

Lennar Trading Up 1.2 %

LEN opened at $189.40 on Wednesday. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $189.43. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $52.01 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. The company has a fifty day moving average price of $174.49 and a two-hundred day moving average price of $163.43.

Lennar (NYSE:LEN) last released its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.18. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.57 billion. Analysts predict that Lennar Co. will post 14.16 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Friday, July 5th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

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.