HighTower Advisors LLC Has $3.81 Million Stock Position in Lennar Co. (NYSE:LEN)

HighTower Advisors LLC lowered its position in shares of Lennar Co. (NYSE:LEN) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,963 shares of the construction company’s stock after selling 525 shares during the quarter. HighTower Advisors LLC’s holdings in Lennar were worth $3,813,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LEN. Prospera Private Wealth LLC acquired a new stake in shares of Lennar during the 3rd quarter worth about $131,000. Commerce Bank increased its position in shares of Lennar by 0.5% during the 3rd quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock worth $2,826,000 after purchasing an additional 74 shares in the last quarter. Moors & Cabot Inc. grew its holdings in Lennar by 2.2% during the 3rd quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock worth $577,000 after acquiring an additional 66 shares during the last quarter. Payden & Rygel bought a new stake in Lennar during the 3rd quarter worth about $9,955,000. Finally, Trustmark National Bank Trust Department grew its holdings in Lennar by 2.9% during the 3rd quarter. Trustmark National Bank Trust Department now owns 10,793 shares of the construction company’s stock worth $2,023,000 after acquiring an additional 306 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Down 0.3 %

Lennar stock opened at $119.90 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The firm has a market capitalization of $31.84 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 1.24 and a beta of 1.69. The company’s 50 day simple moving average is $126.38 and its 200 day simple moving average is $153.95. Lennar Co. has a fifty-two week low of $115.61 and a fifty-two week high of $187.61.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.70 by $0.44. The firm had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $2.57 EPS. As a group, sell-side analysts anticipate that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.67%. Lennar’s dividend payout ratio (DPR) is currently 13.95%.

Analyst Ratings Changes

A number of equities research analysts have commented on LEN shares. Wedbush reissued a “neutral” rating and set a $158.00 price objective on shares of Lennar in a report on Monday. UBS Group decreased their price objective on shares of Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company decreased their price objective on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Tuesday. Barclays decreased their price objective on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, Royal Bank of Canada reduced their target price on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Fourteen investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lennar has a consensus rating of “Hold” and a consensus target price of $164.53.

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.