Sagespring Wealth Partners LLC Has $316,000 Stake in Lennar Corporation (NYSE:LEN)

Sagespring Wealth Partners LLC raised its stake in shares of Lennar Corporation (NYSE:LEN) by 60.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,753 shares of the construction company’s stock after purchasing an additional 1,034 shares during the period. Sagespring Wealth Partners LLC’s holdings in Lennar were worth $316,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LEN. Hurley Capital LLC bought a new position in shares of Lennar during the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new position in shares of Lennar during the 4th quarter worth approximately $28,000. Ameriflex Group Inc. bought a new position in shares of Lennar during the 4th quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new position in shares of Lennar during the 1st quarter worth approximately $30,000. Finally, NBC Securities Inc. bought a new position in shares of Lennar during the 1st quarter worth approximately $33,000. Institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Lennar from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Zelman & Associates cut shares of Lennar from a “strong-buy” rating to a “hold” rating in a report on Wednesday. The Goldman Sachs Group lowered their price target on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. UBS Group lowered their price target on shares of Lennar from $164.00 to $146.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company lowered their price target on shares of Lennar from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Sixteen analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $141.60.

Lennar Trading Down 1.2%

Shares of LEN stock opened at $103.37 on Friday. The company’s fifty day simple moving average is $107.76 and its two-hundred day simple moving average is $122.08. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.68. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $187.61. The stock has a market capitalization of $27.27 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 2.82 and a beta of 1.33.

Lennar (NYSE:LEN) last issued its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same period in the previous year, the firm earned $3.45 EPS. The company’s revenue was down 4.4% compared to the same quarter last year. As a group, analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.93%. Lennar’s dividend payout ratio (DPR) is currently 16.54%.

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.