Denali Advisors LLC Buys 199 Shares of Lennar Co. (NYSE:LEN)

Denali Advisors LLC boosted its stake in Lennar Co. (NYSE:LEN) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,626 shares of the construction company’s stock after acquiring an additional 199 shares during the period. Denali Advisors LLC’s holdings in Lennar were worth $843,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Lyell Wealth Management LP boosted its holdings in Lennar by 5.8% in the second quarter. Lyell Wealth Management LP now owns 75,838 shares of the construction company’s stock valued at $11,366,000 after acquiring an additional 4,156 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Lennar by 12.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 293,924 shares of the construction company’s stock valued at $44,050,000 after acquiring an additional 32,376 shares during the last quarter. Client 1ST Advisory Group LLC bought a new stake in Lennar in the second quarter valued at approximately $216,000. Valley Wealth Managers Inc. bought a new stake in Lennar in the second quarter valued at approximately $37,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in Lennar by 2.5% in the second quarter. Oppenheimer & Co. Inc. now owns 9,722 shares of the construction company’s stock valued at $1,457,000 after acquiring an additional 233 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. BTIG Research dropped their price target on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Evercore ISI boosted their price target on Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. The Goldman Sachs Group lowered Lennar from a “buy” rating to a “neutral” rating and dropped their price target for the company from $180.00 to $174.00 in a research note on Monday, July 22nd. StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $145.00 price target on shares of Lennar in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $172.69.

Lennar Stock Up 0.7 %

Shares of NYSE:LEN opened at $187.21 on Tuesday. The company has a market capitalization of $51.41 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The business has a fifty day moving average price of $173.56 and a two-hundred day moving average price of $163.23. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $188.19.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.18. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. Analysts forecast that Lennar Co. will post 14.16 earnings per share for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.07%. 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.