AE Wealth Management LLC Acquires New Stake in Lennar Co. (LEN)

AE Wealth Management LLC Acquires New Stake in Lennar Co. (LEN)

Several other institutional investors also recently bought and sold shares of LEN. 1832 Asset Management L.P. raised its position in Lennar by 10.9% in the third quarter. 1832 Asset Management L.P. now owns 775,000 shares of the construction company’s stock valued at $32,812,000 after buying an additional 76,000 shares during the last quarter. Advantus Capital Management Inc raised its position in Lennar by 3.0% in the third quarter. Advantus Capital Management Inc now owns 18,619 shares of the construction company’s stock valued at $788,000 after buying an additional 540 shares during the last quarter. United Services Automobile Association raised its position in Lennar by 1.6% in the third quarter. United Services Automobile Association now owns 59,067 shares of the construction company’s stock valued at $2,501,000 after buying an additional 918 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Lennar by 77.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,904 shares of the construction company’s stock valued at $1,308,000 after buying an additional 13,516 shares during the last quarter. Finally, Algebris Investments UK LLP bought a new position in Lennar during the third quarter valued at about $1,029,000. Institutional investors own 79.04% of the company’s stock.

AE Wealth Management LLC bought a new stake in Lennar Co. (NYSE:LEN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,245 shares of the construction company’s stock, valued at approximately $217,000.

Lennar Co. (NYSE:LEN) traded down 0.35% during midday trading on Wednesday, reaching $51.31. The company’s stock had a trading volume of 1,453,013 shares. The firm has a market cap of $12.03 billion, a P/E ratio of 14.84 and a beta of 1.27. Lennar Co. has a 52-week low of $39.68 and a 52-week high of $53.79. The firm has a 50 day moving average of $51.18 and a 200 day moving average of $47.64.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Tuesday, March 21st. The construction company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. Lennar had a return on equity of 13.80% and a net margin of 8.33%. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. Analysts anticipate that Lennar Co. will post $3.82 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 16th. Shareholders of record on Tuesday, May 2nd were paid a $0.04 dividend. The ex-dividend date was Friday, April 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.31%. Lennar’s dividend payout ratio (DPR) is presently 4.07%.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Lennar from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Friday, March 17th. Royal Bank of Canada restated an “outperform” rating and set a $60.00 target price (up from $53.00) on shares of Lennar in a research report on Monday, March 20th. Mizuho assumed coverage on Lennar in a research report on Tuesday, May 16th. They set a “buy” rating and a $59.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Lennar from $44.50 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 22nd. Finally, Deutsche Bank AG decreased their target price on Lennar from $52.00 to $49.00 and set a “hold” rating for the company in a research report on Thursday, March 23rd. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Lennar currently has a consensus rating of “Buy” and an average price target of $54.19.

About Lennar

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LEN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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