Federated Hermes Inc. Has $682,000 Stock Position in Lennar Co. (NYSE:LEN)

Federated Hermes Inc. cut its stake in shares of Lennar Co. (NYSE:LEN) by 48.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,553 shares of the construction company’s stock after selling 4,336 shares during the period. Federated Hermes Inc.’s holdings in Lennar were worth $682,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Rise Advisors LLC increased its holdings in Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after purchasing an additional 121 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Lennar in the first quarter valued at approximately $30,000. New Covenant Trust Company N.A. acquired a new stake in Lennar during the 1st quarter worth approximately $32,000. Redmont Wealth Advisors LLC bought a new stake in Lennar during the 1st quarter worth approximately $35,000. Finally, Fortitude Family Office LLC grew its holdings in Lennar by 223.6% during the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after acquiring an additional 161 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Trading Down 5.3 %

Shares of Lennar stock opened at $182.19 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $193.80. The stock has a 50 day moving average price of $176.53 and a two-hundred day moving average price of $164.01. The stock has a market capitalization of $50.03 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61.

Lennar (NYSE:LEN) last announced its quarterly 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 net margin of 11.58% and a return on equity of 15.93%. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the previous year, the business posted $3.91 EPS. Lennar’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities analysts anticipate that Lennar Co. will post 14.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LEN. JMP Securities reiterated a “market outperform” rating and set a $170.00 price target on shares of Lennar in a report on Thursday, June 20th. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and decreased their price target for the company from $180.00 to $174.00 in a research note on Monday, July 22nd. Bank Of America (Bofa) lifted their price objective on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday. Keefe, Bruyette & Woods increased 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, Royal Bank of Canada reissued an “underperform” rating and set a $145.00 target price on shares of Lennar in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $174.61.

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.