Fulton Bank N.A. Has $624,000 Stock Holdings in Lennar Co. (NYSE:LEN)

Fulton Bank N.A. grew its position in Lennar Co. (NYSE:LEN) by 4.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,330 shares of the construction company’s stock after buying an additional 147 shares during the period. Fulton Bank N.A.’s holdings in Lennar were worth $624,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Rise Advisors LLC increased its holdings in shares of Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after acquiring an additional 121 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in Lennar during the 1st quarter worth approximately $30,000. New Covenant Trust Company N.A. bought a new position in Lennar in the first quarter valued at approximately $32,000. Redmont Wealth Advisors LLC acquired a new position in shares of Lennar in the first quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC increased its position in shares of Lennar by 223.6% during the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after acquiring an additional 161 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LEN shares. Royal Bank of Canada upped their target price on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Citigroup upped their price objective on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Barclays upped their price target on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company lowered shares of Lennar from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $205.00 to $190.00 in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $181.11.

Lennar Stock Performance

Shares of NYSE LEN opened at $181.21 on Wednesday. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $193.80. The stock has a 50 day moving average of $179.73 and a 200-day moving average of $165.82. 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 company has a market capitalization of $49.76 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.71 and a beta of 1.61.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.91 earnings per share. As a group, equities research analysts predict that Lennar Co. will post 14.13 EPS for the current year.

Lennar Announces Dividend

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 issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Wednesday, October 9th. Lennar’s dividend payout ratio is presently 13.60%.

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.