Institute for Wealth Management LLC. Sells 73 Shares of Lennar Co. (NYSE:LEN)

Institute for Wealth Management LLC. cut its holdings in shares of Lennar Co. (NYSE:LEN) by 0.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,753 shares of the construction company’s stock after selling 73 shares during the period. Institute for Wealth Management LLC.’s holdings in Lennar were worth $1,305,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Lennar in the third quarter worth about $27,000. Raleigh Capital Management Inc. bought a new stake in Lennar during the third quarter worth approximately $28,000. BluePath Capital Management LLC bought a new stake in Lennar during the third quarter worth approximately $29,000. Coppell Advisory Solutions LLC bought a new stake in Lennar during the second quarter worth approximately $46,000. Finally, Itau Unibanco Holding S.A. increased its stake in Lennar by 34.3% during the third quarter. Itau Unibanco Holding S.A. now owns 497 shares of the construction company’s stock worth $56,000 after acquiring an additional 127 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Lennar Stock Down 1.5 %

Shares of NYSE LEN opened at $150.18 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.27 and a current ratio of 5.47. The firm has a market capitalization of $41.80 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.42 and a beta of 1.53. The stock has a 50 day moving average price of $159.57 and a 200 day moving average price of $142.30. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $172.59.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.39 billion. Lennar had a return on equity of 15.90% and a net margin of 11.59%. Lennar’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.12 earnings per share. Sell-side analysts expect that Lennar Co. will post 14.46 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.33%. Lennar’s dividend payout ratio is currently 14.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. UBS Group boosted their price objective on Lennar from $190.00 to $198.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Evercore ISI boosted their price objective on Lennar from $224.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. JMP Securities reissued a “market outperform” rating and set a $170.00 price objective on shares of Lennar in a research note on Friday, March 15th. Wells Fargo & Company boosted their target price on Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Keefe, Bruyette & Woods boosted their target price on Lennar from $175.00 to $183.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Lennar has an average rating of “Moderate Buy” and an average target price of $163.88.

Insiders Place Their Bets

In related news, Director Amy Banse bought 1,575 shares of the stock in a transaction on Wednesday, April 10th. The stock was bought at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the acquisition, the director now directly owns 11,859 shares in the company, valued at $1,861,863. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.36% of the stock is owned by company insiders.

Lennar 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.