Lennar Co. (NYSE:LEN) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lessened its holdings in shares of Lennar Co. (NYSE:LEN) by 32.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,623 shares of the construction company’s stock after selling 3,179 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Lennar were worth $993,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Rise Advisors LLC boosted its position in Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after acquiring an additional 121 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Lennar during the 1st quarter worth approximately $30,000. New Covenant Trust Company N.A. purchased a new stake in shares of Lennar in the first quarter valued at approximately $32,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Lennar in the first quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC lifted its position in 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. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Evercore ISI cut their target price on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. JMP Securities lifted their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Citigroup increased their price target on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their price target on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $181.94.

Lennar Price Performance

Shares of NYSE LEN opened at $186.87 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The company has a market cap of $51.32 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. The stock’s 50-day moving average is $179.54 and its two-hundred day moving average is $165.47. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $193.80.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter last year, the company earned $3.91 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. Analysts forecast that Lennar Co. will post 14.13 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. Lennar’s payout ratio is currently 13.60%.

Lennar 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.