Wedmont Private Capital Has $771,000 Stock Position in Lennar Co. (NYSE:LEN)

Wedmont Private Capital grew its position in Lennar Co. (NYSE:LEN) by 6.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,239 shares of the construction company’s stock after buying an additional 268 shares during the quarter. Wedmont Private Capital’s holdings in Lennar were worth $771,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lakewood Asset Management LLC raised its position in Lennar by 0.8% during the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock valued at $1,407,000 after acquiring an additional 70 shares in the last quarter. NorthCrest Asset Manangement LLC increased its position in Lennar by 1.5% during the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after acquiring an additional 73 shares during the period. Aaron Wealth Advisors LLC increased its position in Lennar by 5.7% during the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after acquiring an additional 74 shares during the period. Quotient Wealth Partners LLC increased its position in Lennar by 5.0% during the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after acquiring an additional 74 shares during the period. Finally, BBR Partners LLC increased its position in Lennar by 3.4% during the second quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock worth $364,000 after acquiring an additional 79 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Performance

Shares of NYSE:LEN opened at $178.15 on Friday. The stock has a market capitalization of $48.92 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.68 and a beta of 1.61. Lennar Co. has a 1-year low of $102.90 and a 1-year 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 business has a 50-day moving average price of $179.86 and a two-hundred day moving average price of $166.11.

Lennar (NYSE:LEN) last announced 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. The firm had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.91 EPS. Equities analysts predict that Lennar Co. will post 14.28 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.12%. Lennar’s dividend payout ratio is currently 13.25%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LEN shares. JPMorgan Chase & Co. boosted their target price on shares of Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Argus boosted their target price on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Wedbush restated a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. Finally, Evercore ISI reduced their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $181.11.

Lennar Company Profile

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.