B. Riley Wealth Advisors Inc. Sells 366 Shares of Lennar Co. (NYSE:LEN)

B. Riley Wealth Advisors Inc. trimmed its holdings in Lennar Co. (NYSE:LEN) by 5.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,257 shares of the construction company’s stock after selling 366 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Lennar were worth $1,172,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of LEN. Oakworth Capital Inc. bought a new stake in shares of Lennar during the 3rd quarter valued at about $27,000. Wolff Wiese Magana LLC increased its stake in shares of Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in Lennar during the third quarter valued at about $30,000. Asset Dedication LLC lifted its position 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 buying an additional 169 shares in the last quarter. Finally, DT Investment Partners LLC increased its holdings in Lennar by 523.3% in the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after acquiring an additional 157 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LEN. Bank of America raised their price objective on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Keefe, Bruyette & Woods upped their price target on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. JMP Securities raised their target price on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. Bank Of America (Bofa) increased their price objective on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Citigroup boosted their target price on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Lennar presently has a consensus rating of “Hold” and an average price target of $182.88.

Lennar Stock Down 0.3 %

LEN stock opened at $151.52 on Wednesday. The firm’s fifty day moving average is $171.26 and its 200 day moving average is $169.97. 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 Co. has a one year low of $140.65 and a one year high of $193.80. The firm has a market cap of $41.10 billion, a PE ratio of 10.03, a P/E/G ratio of 1.31 and a beta of 1.61.

Lennar (NYSE:LEN) last released its quarterly 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 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 EPS. The firm’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 14.11 EPS for the current year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Insiders Place Their Bets

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the sale, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.36% of the stock is currently owned by corporate insiders.

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.