Fifth Third Wealth Advisors LLC Acquires Shares of 2,704 Lennar Co. (NYSE:LEN)

Fifth Third Wealth Advisors LLC purchased a new stake in shares of Lennar Co. (NYSE:LEN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,704 shares of the construction company’s stock, valued at approximately $405,000.

Several other hedge funds have also made changes to their positions in LEN. Rise Advisors LLC lifted its holdings in shares of Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after purchasing an additional 121 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in Lennar during the first quarter valued at $30,000. New Covenant Trust Company N.A. purchased a new stake in Lennar in the 1st quarter worth about $32,000. Redmont Wealth Advisors LLC purchased a new position in Lennar during the 1st quarter valued at about $35,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after purchasing an additional 161 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Wedbush raised shares of Lennar from an “underperform” rating to a “neutral” rating and set a $144.00 price target on the stock in a research note on Tuesday, July 9th. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Lennar has an average rating of “Hold” and a consensus target price of $169.13.

Lennar Stock Performance

Shares of NYSE:LEN traded up $5.05 during midday trading on Wednesday, hitting $179.05. The company’s stock had a trading volume of 2,745,224 shares, compared to its average volume of 2,125,337. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $182.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. The stock has a market capitalization of $49.17 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.60 and a beta of 1.60. The stock’s 50 day simple moving average is $161.78 and its 200 day simple moving average is $159.64.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, topping the consensus estimate of $3.20 by $0.18. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.57 billion. As a group, research analysts anticipate that Lennar Co. will post 14.16 earnings per share for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 annualized dividend and a yield of 1.12%. Lennar’s dividend payout ratio is 13.60%.

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.