Stockman Wealth Management Inc. Acquires 2,292 Shares of Lennar Corporation $LEN

Stockman Wealth Management Inc. boosted its position in Lennar Corporation (NYSE:LEN) by 3.9% in the second quarter, HoldingsChannel reports. The firm owned 60,512 shares of the construction company’s stock after buying an additional 2,292 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Lennar were worth $6,693,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Lennar in the 1st quarter worth about $30,000. NBC Securities Inc. bought a new stake in Lennar in the 1st quarter worth about $33,000. Disciplina Capital Management LLC grew its position in Lennar by 179.8% in the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock worth $38,000 after purchasing an additional 214 shares in the last quarter. Oakworth Capital Inc. grew its position in Lennar by 139.9% in the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock worth $39,000 after purchasing an additional 200 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Lennar in the 1st quarter worth about $44,000. 81.10% of the stock is owned by institutional investors.

Lennar Stock Performance

Shares of LEN stock opened at $126.08 on Friday. The stock has a market capitalization of $32.66 billion, a P/E ratio of 12.46, a PEG ratio of 5.64 and a beta of 1.33. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $127.39 and its 200 day moving average is $116.02. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $189.65.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. The company had revenue of $8.81 billion for the quarter, compared to analysts’ expectations of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. Lennar’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.90 EPS. On average, sell-side analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, October 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.6%. Lennar’s dividend payout ratio is presently 19.76%.

Analysts Set New Price Targets

LEN has been the subject of a number of recent analyst reports. Zacks Research raised shares of Lennar from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. JMP Securities increased their target price on shares of Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a research report on Monday, September 22nd. Citigroup reissued an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. Barclays reduced their target price on shares of Lennar from $110.00 to $95.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company increased their target price on shares of Lennar from $110.00 to $135.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $123.75.

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.