Lennar Corporation $LEN Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its stake in Lennar Corporation (NYSE:LEN) by 49.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,498 shares of the construction company’s stock after acquiring an additional 2,793 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Lennar were worth $940,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LEN. Brighton Jones LLC increased its stake in shares of Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after acquiring an additional 377 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Lennar by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 208,763 shares of the construction company’s stock worth $23,962,000 after purchasing an additional 4,332 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Lennar by 35.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,695 shares of the construction company’s stock worth $309,000 after purchasing an additional 710 shares during the period. Heartland Bank & Trust Co grew its holdings in shares of Lennar by 19.7% during the 1st quarter. Heartland Bank & Trust Co now owns 2,644 shares of the construction company’s stock worth $303,000 after purchasing an additional 435 shares during the period. Finally, Manning & Napier Advisors LLC grew its holdings in shares of Lennar by 86.6% during the 1st quarter. Manning & Napier Advisors LLC now owns 28,256 shares of the construction company’s stock worth $3,243,000 after purchasing an additional 13,116 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Price Performance

LEN stock opened at $125.78 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The firm has a market capitalization of $32.08 billion, a P/E ratio of 12.43, a P/E/G ratio of 5.85 and a beta of 1.37. The business’s 50-day moving average is $129.60 and its two-hundred day moving average is $116.77. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $189.65.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. The company had revenue of $8.81 billion for the quarter, compared to analyst estimates of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.Lennar’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.90 EPS. Analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Lennar’s dividend payout ratio (DPR) is 19.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LEN shares. Citigroup reiterated an “outperform” rating on shares of Lennar in a report on Monday, September 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Lennar in a report on Wednesday, October 8th. Raymond James Financial cut Lennar from a “market perform” rating to an “underperform” rating in a report on Monday, September 22nd. Wedbush restated a “neutral” rating and set a $130.00 target price on shares of Lennar in a report on Monday, September 22nd. Finally, Wells Fargo & Company lowered their target price on Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $121.75.

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.