Wealth Enhancement Advisory Services LLC Sells 24,010 Shares of Lennar Co. (NYSE:LEN)

Wealth Enhancement Advisory Services LLC lessened its stake in Lennar Co. (NYSE:LEN) by 10.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,916 shares of the construction company’s stock after selling 24,010 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.07% of Lennar worth $38,043,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LEN. Pacer Advisors Inc. grew its stake in Lennar by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after acquiring an additional 396,951 shares in the last quarter. D1 Capital Partners L.P. boosted its holdings in shares of Lennar by 428.9% in the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after purchasing an additional 1,962,447 shares during the period. Marshall Wace LLP increased its holdings in Lennar by 20.9% during the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after purchasing an additional 348,553 shares during the period. Nordea Investment Management AB raised its position in Lennar by 3.6% during the 1st quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after purchasing an additional 60,713 shares in the last quarter. Finally, Eminence Capital LP lifted its holdings in shares of Lennar by 14.6% in the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after buying an additional 83,316 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 1.5 %

NYSE:LEN opened at $173.28 on Friday. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. Lennar Co. has a twelve month low of $102.90 and a twelve month high of $193.80. The company has a market cap of $47.00 billion, a PE ratio of 11.48, a P/E/G ratio of 1.62 and a beta of 1.61. The company’s 50 day moving average is $182.08 and its two-hundred day moving average is $167.15.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same period in the prior year, the firm earned $3.91 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. Analysts anticipate that Lennar Co. will post 14.18 EPS for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. Lennar’s dividend payout ratio is currently 13.25%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LEN. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Wedbush reissued a “neutral” rating and set a $144.00 price objective on shares of Lennar in a report on Friday, September 20th. Wells Fargo & Company lowered Lennar from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $205.00 to $190.00 in a report on Monday, October 7th. Finally, Raymond James downgraded Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $181.11.

Lennar Company 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.