Wright Investors Service Inc. Has $2.06 Million Position in Lennar Co. (NYSE:LEN)

Wright Investors Service Inc. lessened its holdings in Lennar Co. (NYSE:LEN) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,006 shares of the construction company’s stock after selling 223 shares during the period. Wright Investors Service Inc.’s holdings in Lennar were worth $2,063,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Boston Partners grew its stake in Lennar by 21.5% during the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock valued at $4,089,000 after acquiring an additional 4,207 shares in the last quarter. Integrated Advisors Network LLC lifted its position in Lennar by 177.3% in the 4th quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock worth $4,659,000 after buying an additional 19,985 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its stake in shares of Lennar by 331.8% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock valued at $2,069,000 after buying an additional 9,246 shares during the period. Grayhawk Investment Strategies Inc. purchased a new position in shares of Lennar during the 4th quarter valued at $838,000. Finally, Norden Group LLC acquired a new position in shares of Lennar in the first quarter worth $5,592,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wedbush restated a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. JPMorgan Chase & Co. increased their price objective on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Barclays boosted their target price on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Bank Of America (Bofa) raised their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $181.94.

Lennar Stock Performance

LEN traded down $4.65 on Friday, hitting $182.25. 2,423,118 shares of the stock traded hands, compared to its average volume of 2,077,726. The business has a fifty day moving average price of $179.65 and a two-hundred day moving average price of $165.69. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $193.80. The firm has a market capitalization of $50.05 billion, a PE ratio of 12.39, a P/E/G ratio of 1.71 and a beta of 1.61.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.91 earnings per share. On average, research analysts predict that Lennar Co. will post 14.13 EPS for the current fiscal year.

Lennar Dividend Announcement

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

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.