Aaron Wealth Advisors LLC Boosts Stock Holdings in Lennar Co. (NYSE:LEN)

Aaron Wealth Advisors LLC raised its position in Lennar Co. (NYSE:LEN) by 37.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,894 shares of the construction company’s stock after acquiring an additional 513 shares during the period. Aaron Wealth Advisors LLC’s holdings in Lennar were worth $355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in LEN. Rise Advisors LLC boosted its holdings in 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 period. Wolff Wiese Magana LLC boosted its holdings in shares of Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after acquiring an additional 140 shares during the period. J.Safra Asset Management Corp purchased a new position in shares of Lennar in the first quarter valued at $30,000. New Covenant Trust Company N.A. bought a new stake in shares of Lennar during the 1st quarter valued at $32,000. Finally, Asset Dedication LLC lifted its holdings in Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after purchasing an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LEN. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Keefe, Bruyette & Woods raised their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. The Goldman Sachs Group cut shares of Lennar from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $180.00 to $174.00 in a report on Monday, July 22nd. Evercore ISI dropped their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Finally, Wells Fargo & Company lowered Lennar from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $205.00 to $190.00 in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $181.11.

Lennar Price Performance

LEN stock opened at $188.93 on Friday. 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 $51.88 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.68 and a beta of 1.61. The firm’s fifty day moving average is $181.55 and its 200 day moving average is $166.80. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $193.80.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping 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 return on equity of 15.47% and a net margin of 11.51%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.91 earnings per share. Research analysts predict that Lennar Co. will post 14.28 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend 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.