Independent Advisor Alliance Has $259,000 Stock Holdings in Lennar Corporation $LEN

Independent Advisor Alliance lessened its holdings in Lennar Corporation (NYSE:LEN) by 85.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,521 shares of the construction company’s stock after selling 14,411 shares during the quarter. Independent Advisor Alliance’s holdings in Lennar were worth $259,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of LEN. Guerra Advisors Inc acquired a new stake in shares of Lennar in the 3rd quarter valued at $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Lennar in the 3rd quarter valued at $25,000. Redmont Wealth Advisors LLC bought a new position in shares of Lennar in the 3rd quarter valued at $26,000. High Point Wealth Management LLC bought a new position in shares of Lennar in the 4th quarter valued at $31,000. Finally, Washington Trust Advisors Inc. lifted its stake in shares of Lennar by 102.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock valued at $47,000 after acquiring an additional 188 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of Lennar stock opened at $83.85 on Tuesday. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $90.64 and a two-hundred day moving average price of $107.39. Lennar Corporation has a 1-year low of $82.06 and a 1-year high of $144.24. The company has a market cap of $20.71 billion, a P/E ratio of 12.05, a PEG ratio of 1.82 and a beta of 1.41.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the business posted $2.14 earnings per share. The business’s revenue was down 13.3% on a year-over-year basis. As a group, analysts anticipate that Lennar Corporation will post 5.87 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, April 22nd. Lennar’s dividend payout ratio (DPR) is presently 28.74%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays dropped their price target on Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, April 8th. Truist Financial lowered their target price on Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. Weiss Ratings lowered Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 16th. The Goldman Sachs Group lowered their target price on Lennar from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Finally, Wells Fargo & Company lowered their target price on Lennar from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $99.87.

Lennar Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.