Daiwa Securities Group Inc. Sells 2,893 Shares of Lennar Co. (NYSE:LEN)

Daiwa Securities Group Inc. trimmed its holdings in Lennar Co. (NYSE:LEN) by 9.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 26,604 shares of the construction company’s stock after selling 2,893 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Lennar were worth $3,987,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Rise Advisors LLC raised its holdings in shares of Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after purchasing an additional 121 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in Lennar in the 1st quarter worth approximately $30,000. New Covenant Trust Company N.A. purchased a new stake in Lennar during the 1st quarter valued at $32,000. Redmont Wealth Advisors LLC bought a new position in shares of Lennar during the 1st quarter valued at $35,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Lennar by 223.6% in the second 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 period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

LEN has been the topic of a number of recent research reports. BTIG Research lowered their target price on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Citigroup restated a “neutral” rating and set a $164.00 target price (down from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods upped their target price on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Wells Fargo & Company lifted their price target on shares of Lennar from $195.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Evercore ISI raised their target price on Lennar from $237.00 to $240.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $172.69.

Lennar Price Performance

Shares of Lennar stock opened at $181.38 on Friday. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $186.60. The stock has a 50 day moving average of $171.80 and a 200 day moving average of $162.68. The firm has a market cap of $49.81 billion, a PE ratio of 12.33, a PEG ratio of 1.63 and a beta of 1.61.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.18. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.57 billion. On average, research analysts expect that Lennar Co. will post 14.16 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 annualized dividend and a yield of 1.10%. Lennar’s payout ratio is currently 13.60%.

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.