Apollon Wealth Management LLC Has $1.98 Million Stake in Lennar Co. (NYSE:LEN)

Apollon Wealth Management LLC reduced its position in shares of Lennar Co. (NYSE:LEN) by 9.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,220 shares of the construction company’s stock after selling 1,393 shares during the period. Apollon Wealth Management LLC’s holdings in Lennar were worth $1,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Rise Advisors LLC raised its stake in Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after buying an additional 121 shares during the period. J.Safra Asset Management Corp acquired a new position in Lennar during the 1st quarter worth about $30,000. New Covenant Trust Company N.A. acquired a new position in shares of Lennar in the 1st quarter valued at about $32,000. Redmont Wealth Advisors LLC acquired a new position in shares of Lennar in the 1st quarter valued at about $35,000. Finally, Fortitude Family Office LLC increased its position in Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after buying an additional 161 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on LEN shares. Evercore ISI boosted their price objective on Lennar from $237.00 to $240.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Citigroup restated a “neutral” rating and set a $164.00 target price (down previously from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Raymond James downgraded Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Finally, BTIG Research reduced their target price on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $169.13.

Lennar Price Performance

LEN traded up $3.71 during midday trading on Monday, hitting $175.47. 1,205,133 shares of the company traded hands, compared to its average volume of 2,126,107. 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 capitalization of $48.18 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.60 and a beta of 1.60. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $182.53. The business has a 50 day simple moving average of $160.46 and a two-hundred day simple moving average of $159.21.

Lennar (NYSE:LEN) last posted its earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, beating 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 company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.57 billion. On average, equities analysts forecast that Lennar Co. will post 14.16 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, July 5th. Lennar’s dividend payout ratio is presently 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.