Premier Path Wealth Partners LLC Grows Position in Lennar Co. (NYSE:LEN)

Premier Path Wealth Partners LLC lifted its holdings in shares of Lennar Co. (NYSE:LEN) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,104 shares of the construction company’s stock after purchasing an additional 136 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Lennar were worth $615,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Rise Advisors LLC increased its holdings in shares of Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after buying an additional 121 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in Lennar during the first quarter worth about $30,000. New Covenant Trust Company N.A. purchased a new position in shares of Lennar during the 1st quarter valued at about $32,000. Redmont Wealth Advisors LLC bought a new stake in Lennar in the 1st quarter worth approximately $35,000. Finally, Fortitude Family Office LLC boosted its stake in Lennar by 223.6% in the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after buying an additional 161 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Lennar Stock Up 3.5 %

LEN traded up $6.28 on Friday, hitting $185.02. The company had a trading volume of 1,962,090 shares, compared to its average volume of 2,118,191. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $185.68. The stock has a fifty day simple moving average of $162.86 and a 200-day simple moving average of $160.00. 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 firm has a market capitalization of $50.81 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.60 and a beta of 1.60.

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

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, July 5th. Lennar’s dividend payout ratio (DPR) is 13.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $180.00 to $174.00 in a research note on Monday, July 22nd. Wedbush raised Lennar from an “underperform” rating to a “neutral” rating and set a $144.00 target price for the company in a research note on Tuesday, July 9th. Royal Bank of Canada restated an “underperform” rating and set a $145.00 price target on shares of Lennar in a research report on Thursday, June 20th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $183.00 price objective on shares of Lennar in a research report on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $169.13.

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.