Resonant Capital Advisors LLC Trims Holdings in Lennar Co. (NYSE:LEN)

Resonant Capital Advisors LLC lowered its position in shares of Lennar Co. (NYSE:LEN) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,444 shares of the construction company’s stock after selling 83 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Lennar were worth $458,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LEN. Pacer Advisors Inc. boosted its holdings 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 buying an additional 396,951 shares during the period. D1 Capital Partners L.P. boosted its stake 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 worth $362,685,000 after acquiring an additional 1,962,447 shares during the period. Marshall Wace LLP lifted its holdings in Lennar by 20.9% in 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 in the last quarter. Nordea Investment Management AB raised its position in shares of Lennar by 3.6% during the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after buying an additional 60,713 shares during the last quarter. Finally, Eminence Capital LP boosted its position in shares of Lennar by 14.6% during the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after acquiring an additional 83,316 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Lennar Stock Performance

Shares of NYSE:LEN opened at $188.93 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The firm’s 50 day simple moving average is $181.55 and its 200-day simple moving average is $166.81. The firm has a market cap of $51.88 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61. Lennar Co. has a one year low of $102.90 and a one year high of $193.80.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.91 EPS. As a group, equities analysts predict that Lennar Co. will post 14.28 EPS for the current year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Wednesday, October 9th. Lennar’s payout ratio is 13.60%.

Wall Street Analysts Forecast Growth

LEN has been the topic of several research reports. Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Wedbush restated a “neutral” rating and issued a $144.00 price target on shares of Lennar in a research report on Friday, September 20th. Bank of America boosted their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Citigroup lifted their price target on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $180.00 to $174.00 in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $181.11.

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.