20,737 Shares in Lennar Corporation $LEN Acquired by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC bought a new stake in Lennar Corporation (NYSE:LEN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,737 shares of the construction company’s stock, valued at approximately $2,598,000.

Several other hedge funds 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. Redmont Wealth Advisors LLC acquired a new stake in shares of Lennar in the third quarter worth about $26,000. Rexford Capital Inc. bought a new stake in shares of Lennar during the 2nd quarter worth about $36,000. Washington Trust Advisors Inc. increased its holdings in shares of Lennar by 102.7% during 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. Finally, Harbor Investment Advisory LLC raised its stake in shares of Lennar by 39.7% in the 3rd quarter. Harbor Investment Advisory LLC now owns 405 shares of the construction company’s stock valued at $51,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LEN shares. Wall Street Zen cut Lennar from a “hold” rating to a “sell” rating in a research report on Monday, December 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lennar in a research note on Thursday, January 22nd. The Goldman Sachs Group reissued a “neutral” rating and set a $125.00 target price on shares of Lennar in a research report on Tuesday, January 13th. BTIG Research set a $90.00 price target on shares of Lennar in a report on Thursday, December 18th. Finally, Bank of America reiterated an “underperform” rating and issued a $95.00 price objective (down from $125.00) on shares of Lennar in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $106.38.

Lennar Stock Down 0.2%

Shares of LEN opened at $116.19 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 4.89. The company has a 50-day simple moving average of $112.98 and a 200-day simple moving average of $122.03. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $144.24. The firm has a market capitalization of $28.70 billion, a P/E ratio of 14.54, a P/E/G ratio of 1.69 and a beta of 1.44.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.27%. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter in the prior year, the firm earned $4.03 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. On average, equities research analysts expect 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 was paid on Thursday, February 19th. Investors of record on Wednesday, February 4th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Wednesday, February 4th. Lennar’s dividend payout ratio is presently 25.03%.

Lennar Company 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.