Wright Investors Service Inc. Has $2.06 Million Holdings in Lennar Co. (NYSE:LEN)

Wright Investors Service Inc. lowered its holdings in Lennar Co. (NYSE:LEN) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,006 shares of the construction company’s stock after selling 223 shares during the quarter. Wright Investors Service Inc.’s holdings in Lennar were worth $2,063,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Rise Advisors LLC raised its stake in shares of Lennar by 484.0% in 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 bought a new position in Lennar in the 1st quarter valued at $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Lennar in the 1st quarter valued at $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar during the first quarter worth $35,000. Finally, Fortitude Family Office LLC boosted its holdings in Lennar by 223.6% in the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after acquiring an additional 161 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 2.5 %

NYSE LEN traded down $4.65 on Friday, reaching $182.25. The company had a trading volume of 2,423,118 shares, compared to its average volume of 2,077,726. The company’s fifty day moving average is $179.65 and its 200-day moving average is $165.69. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $193.80. The firm has a market capitalization of $50.05 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90.

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

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is currently 13.60%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Evercore ISI cut their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Royal Bank of Canada upped their target price on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research report on Monday, September 23rd. Citigroup lifted their price objective on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. increased their target price on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Argus boosted their target price on Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $181.94.

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.