Gateway Wealth Partners LLC Boosts Stock Holdings in Lennar Co. (NYSE:LEN)

Gateway Wealth Partners LLC boosted its stake in shares of Lennar Co. (NYSE:LEN) by 6.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,246 shares of the construction company’s stock after acquiring an additional 129 shares during the period. Gateway Wealth Partners LLC’s holdings in Lennar were worth $337,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LEN. Rise Advisors LLC grew its stake in Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after acquiring an additional 121 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Lennar in the 1st quarter worth $30,000. New Covenant Trust Company N.A. purchased a new position in shares of Lennar in the 1st quarter worth $32,000. Redmont Wealth Advisors LLC purchased a new position in shares of Lennar in the 1st quarter worth $35,000. Finally, Fortitude Family Office LLC grew its stake in shares of Lennar by 223.6% in the 2nd 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 owned by hedge funds and other institutional investors.

Lennar Trading Up 0.2 %

NYSE:LEN opened at $187.48 on Tuesday. Lennar Co. has a one year low of $102.90 and a one year high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The firm has a market cap of $51.48 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.71 and a beta of 1.61. The firm has a 50-day simple moving average of $178.55 and a 200-day simple moving average of $164.94.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating 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 analyst estimates of $9.14 billion. During the same quarter in the previous year, the business posted $3.91 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Lennar Co. will post 14.13 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, October 9th. Lennar’s payout ratio is currently 13.60%.

Analysts Set New Price Targets

A number of brokerages have commented on LEN. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday. Bank Of America (Bofa) lifted their price objective on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Wedbush reaffirmed a “neutral” rating and set a $144.00 price target on shares of Lennar in a research note on Friday, September 20th. Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Finally, Evercore ISI dropped their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lennar currently has a consensus rating of “Hold” and a consensus price target of $181.94.

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.