Lennar Co. (NYSE:LEN) Shares Acquired by JGP Wealth Management LLC

JGP Wealth Management LLC boosted its position in Lennar Co. (NYSE:LEN) by 0.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,062 shares of the construction company’s stock after purchasing an additional 202 shares during the quarter. Lennar comprises about 1.9% of JGP Wealth Management LLC’s holdings, making the stock its 15th largest position. JGP Wealth Management LLC’s holdings in Lennar were worth $14,635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC boosted its position in Lennar by 484.0% during 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 purchased a new stake in shares of Lennar in the first quarter valued at $30,000. New Covenant Trust Company N.A. acquired a new position in Lennar in the first quarter valued at $32,000. Redmont Wealth Advisors LLC acquired a new stake in Lennar in the 1st quarter worth about $35,000. Finally, Fortitude Family Office LLC increased its stake in shares of Lennar by 223.6% during the 2nd 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. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LEN shares. Argus boosted their target price on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. boosted their price objective on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. JMP Securities boosted their price target on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 25th. Bank of America lifted their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada boosted their price target on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Lennar has an average rating of “Hold” and an average target price of $181.11.

Lennar Stock Performance

LEN traded up $1.64 during trading on Friday, reaching $179.84. 496,243 shares of the company were exchanged, compared to its average volume of 2,060,188. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $193.80. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $179.86 and a 200 day moving average of $166.11. The stock has a market cap of $49.38 billion, a P/E ratio of 11.80, a PEG ratio of 1.68 and a beta of 1.61.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter in the prior year, the company posted $3.91 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that Lennar Co. will post 14.28 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.11%. The ex-dividend date is Wednesday, October 9th. Lennar’s payout ratio is presently 13.25%.

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.