Hennion & Walsh Asset Management Inc. Buys 6,712 Shares of Lennar Co. (NYSE:LEN)

Hennion & Walsh Asset Management Inc. boosted its stake in shares of Lennar Co. (NYSE:LEN) by 53.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,216 shares of the construction company’s stock after acquiring an additional 6,712 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Lennar were worth $3,603,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oakworth Capital Inc. acquired a new position in shares of Lennar in the 3rd quarter worth approximately $27,000. Wolff Wiese Magana LLC boosted its stake in Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Lennar during the first quarter worth $30,000. Asset Dedication LLC increased its stake in shares of Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after buying an additional 169 shares in the last quarter. Finally, New Covenant Trust Company N.A. acquired a new position in Lennar during the 1st quarter worth about $32,000. 81.10% of the stock is owned by institutional investors.

Lennar Price Performance

Lennar stock opened at $175.94 on Friday. Lennar Co. has a one year low of $102.90 and a one year high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The stock’s 50 day moving average is $181.94 and its 200 day moving average is $167.02. The firm has a market cap of $48.31 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.68 and a beta of 1.61.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same period in the previous year, the company posted $3.91 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, research analysts expect that Lennar Co. will post 14.28 EPS for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is 13.60%.

Analysts Set New Price Targets

A number of brokerages have weighed in on LEN. Evercore ISI dropped their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Barclays boosted their target price on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods upped their target price on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, Bank Of America (Bofa) lifted their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $181.11.

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.