Asset Dedication LLC Grows Position in Lennar Co. (NYSE:LEN)

Asset Dedication LLC grew its position in shares of Lennar Co. (NYSE:LEN) by 4,225.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173 shares of the construction company’s stock after acquiring an additional 169 shares during the quarter. Asset Dedication LLC’s holdings in Lennar were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LEN. Lakewood Asset Management LLC grew its position in Lennar by 0.8% in the 2nd quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after purchasing an additional 70 shares in the last quarter. NorthCrest Asset Manangement LLC increased its position in shares of Lennar by 1.5% during the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock valued at $730,000 after acquiring an additional 73 shares during the last quarter. Aaron Wealth Advisors LLC lifted its holdings in Lennar by 5.7% during the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after acquiring an additional 74 shares during the period. Quotient Wealth Partners LLC grew its stake in Lennar by 5.0% in the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock valued at $231,000 after purchasing an additional 74 shares during the period. Finally, BBR Partners LLC increased its position in shares of Lennar by 3.4% during the 2nd quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock valued at $364,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased 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. Bank of America lifted their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Barclays upped their price target on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, BTIG Research lowered their target price on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $181.11.

Lennar Trading Down 1.5 %

NYSE LEN opened at $185.50 on Friday. The stock’s 50-day simple moving average is $181.17 and its two-hundred day simple moving average is $166.63. Lennar Co. has a twelve month low of $102.90 and a twelve month high of $193.80. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $50.94 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.68 and a beta of 1.61.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’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 earned $3.91 earnings per share. Research analysts forecast that Lennar Co. will post 14.28 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.08%. Lennar’s 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.