Lennar Corporation $LEN Shares Bought by Live Oak Private Wealth LLC

Live Oak Private Wealth LLC boosted its stake in shares of Lennar Corporation (NYSE:LEN) by 518.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,564 shares of the construction company’s stock after purchasing an additional 47,425 shares during the period. Live Oak Private Wealth LLC’s holdings in Lennar were worth $4,912,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LEN. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Lennar in the third quarter worth $25,000. DV Equities LLC purchased a new stake in shares of Lennar during the fourth quarter valued at $31,000. High Point Wealth Management LLC acquired a new position in shares of Lennar in the 4th quarter valued at $31,000. Washington Trust Advisors Inc. raised its stake in Lennar by 102.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after acquiring an additional 188 shares during the last quarter. Finally, Quarry LP acquired a new stake in Lennar during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Price Performance

Shares of LEN opened at $92.87 on Thursday. The business’s 50-day moving average is $89.58 and its two-hundred day moving average is $100.88. The company has a market capitalization of $22.94 billion, a P/E ratio of 14.53, a P/E/G ratio of 2.87 and a beta of 1.39. Lennar Corporation has a fifty-two week low of $81.18 and a fifty-two week high of $144.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.07. The business had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 EPS. Research analysts predict that Lennar Corporation will post 5.58 earnings per share for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, April 22nd. Lennar’s dividend payout ratio is currently 31.30%.

Analyst Ratings Changes

Several analysts have weighed in on LEN shares. JPMorgan Chase & Co. dropped their price target on Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 16th. Seaport Research Partners reaffirmed a “sell” rating and set a $74.00 target price (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. BTIG Research set a $67.00 target price on Lennar in a research report on Monday, June 15th. Argus cut their price target on shares of Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Finally, UBS Group reduced their price target on shares of Lennar from $107.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have assigned a Sell rating to the stock. According to MarketBeat, Lennar currently has an average rating of “Reduce” and an average target price of $95.00.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.