Stiles Financial Services Inc Boosts Position in Lennar Corporation $LEN

Stiles Financial Services Inc lifted its stake in shares of Lennar Corporation (NYSE:LEN) by 7.0% during the 2nd quarter, Holdings Channel reports. The fund owned 10,057 shares of the construction company’s stock after buying an additional 658 shares during the quarter. Stiles Financial Services Inc’s holdings in Lennar were worth $1,113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LEN. Secured Retirement Advisors LLC acquired a new position in Lennar in the 1st quarter valued at about $926,000. Marks Group Wealth Management Inc lifted its stake in Lennar by 15.4% during the first quarter. Marks Group Wealth Management Inc now owns 2,183 shares of the construction company’s stock worth $251,000 after purchasing an additional 292 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Lennar by 2.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 208,763 shares of the construction company’s stock worth $23,962,000 after purchasing an additional 4,332 shares during the last quarter. Turtle Creek Wealth Advisors LLC lifted its stake in Lennar by 24.8% in the first quarter. Turtle Creek Wealth Advisors LLC now owns 42,041 shares of the construction company’s stock valued at $4,825,000 after buying an additional 8,357 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc lifted its stake in Lennar by 77.7% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company’s stock valued at $419,000 after buying an additional 1,596 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Down 2.1%

NYSE:LEN opened at $117.58 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $189.65. The business has a 50 day simple moving average of $129.30 and a 200 day simple moving average of $116.47. The firm has a market capitalization of $30.45 billion, a P/E ratio of 11.62, a P/E/G ratio of 5.38 and a beta of 1.37.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. The company had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.90 EPS. Equities research analysts predict that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. Lennar’s payout ratio is presently 19.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Lennar from $110.00 to $135.00 and gave the company an “equal weight” rating in a report on Tuesday, September 2nd. JMP Securities upped their price objective on Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a research report on Monday, September 22nd. Bank of America upped their price objective on Lennar from $115.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, September 18th. Citigroup reiterated an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. Finally, The Goldman Sachs Group upped their price target on Lennar from $122.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Lennar presently has an average rating of “Hold” and a consensus target price of $123.42.

Lennar Company 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.