Spire Wealth Management holds a $454,000 equity position in Lennar Co. (NYSE:LEN)
Spire Wealth Management reduced its holdings of Lennar Co. (NYSE:LEN – Get Rating) stock by 14.9% in Q1, HoldingsChannel reports. The company held 5,587 shares of the construction company after selling 979 shares during the period. Spire Wealth Management’s holdings in Lennar were worth $454,000 at the end of the last quarter.
Other hedge funds and other institutional investors have also increased or reduced their stakes in the company. Newbridge Financial Services Group Inc. increased its stake in Lennar by 69.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 284 shares of the construction company worth $33,000 after purchasing an additional 116 shares during the period. Mizuho Securities Co.Ltd. bought a new position in Lennar in the fourth quarter worth about $34,000. City State Bank bought a new position in Lennar in the fourth quarter worth about $27,000. Amplius Wealth Advisors LLC bought a new position in Lennar in the fourth quarter worth approximately $101,000. Finally, Exane Derivatives increased its stake in Lennar by 182.4% in the fourth quarter. Exane Derivatives now owns 997 shares of the construction company worth $116,000 after acquiring an additional 644 shares last quarter. 82.00% of the shares are held by institutional investors and hedge funds.
Lennar shares opened at $74.60 on Friday. The company’s 50-day simple moving average is $74.91 and its 200-day simple moving average is $86.84. The company has a market capitalization of $22.04 billion, a P/E ratio of 5.11, a price-to-earnings growth ratio of 4.18 and a beta of 1.46. Lennar Co. has a 12-month low of $62.54 and a 12-month high of $117.54. The company has a current ratio of 8.06, a quick ratio of 0.62 and a debt ratio of 0.21.
Lennar Inc (NYSE:LEN – Get Rating) last released its quarterly results on Tuesday, June 21. The construction company reported EPS of $4.49 for the quarter, beating analyst consensus estimates of $3.99 by $0.50. Lennar had a return on equity of 21.45% and a net margin of 14.77%. In the same quarter last year, the company achieved EPS of $2.95. Analysts predict Lennar Co. will post EPS of 16.87 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 21. Shareholders of record on Thursday, July 7 will receive a dividend of $0.375. This represents a dividend of $1.50 on an annualized basis and a yield of 2.01%. The ex-dividend date is Wednesday, July 6. Lennar’s dividend payout ratio is currently 10.27%.
Several research analysts have published reports on LEN shares. BTIG Research raised its price target on Lennar from $92.00 to $97.00 and gave the stock a “buy” rating in a Wednesday, June 22 report. Goldman Sachs Group cut its price target on Lennar from $120.00 to $96.00 and set a “buy” rating on the stock in a Tuesday, April 12 report. Royal Bank of Canada lowered its price target on Lennar from $109.00 to $100.00 and set an “sector performance” rating on the stock in a Friday, March 18 report. Credit Suisse Group launched coverage on Lennar in a report on Tuesday, April 5. They issued a “neutral” rating and a target price of $88.00 on the stock. Finally, KeyCorp lowered its price target on Lennar from $75.00 to $60.00 and set an “underweight” rating on the stock in a Wednesday, June 22 report. A research analyst rated the stock with a sell rating, six gave the stock a hold rating, and eight gave the stock a buy rating. According to data from MarketBeat, Lennar currently has a consensus rating of “Hold” and an average price target of $94.00.
Profile of Lennar (Get a rating)
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 businesses include the construction and sale of single-family attached and detached homes, as well as the purchase, development and sale of residential land; and the development, construction and management of multi-family rental properties.
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