Private Advisor Group LLC Decreases Holdings in Lennar Co. (NYSE:LEN)

Private Advisor Group LLC decreased its position in shares of Lennar Co. (NYSE:LEN) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,685 shares of the construction company’s stock after selling 233 shares during the quarter. Private Advisor Group LLC’s holdings in Lennar were worth $852,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LEN. BBR Partners LLC lifted its stake in Lennar by 3.4% in the 2nd quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock valued at $364,000 after buying an additional 79 shares in the last quarter. Impact Partnership Wealth LLC boosted its position in Lennar by 98.3% in the 2nd quarter. Impact Partnership Wealth LLC now owns 3,471 shares of the construction company’s stock valued at $520,000 after buying an additional 1,721 shares during the last quarter. TD Asset Management Inc boosted its position in Lennar by 11.3% in the 2nd quarter. TD Asset Management Inc now owns 185,067 shares of the construction company’s stock valued at $27,736,000 after buying an additional 18,730 shares during the last quarter. Gries Financial LLC boosted its position in Lennar by 5.2% in the 2nd quarter. Gries Financial LLC now owns 2,548 shares of the construction company’s stock valued at $382,000 after buying an additional 127 shares during the last quarter. Finally, Privium Fund Management UK Ltd purchased a new position in Lennar in the 2nd quarter valued at about $377,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

NYSE LEN opened at $187.21 on Tuesday. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $188.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The firm has a market capitalization of $51.41 billion, a PE ratio of 12.73, a P/E/G ratio of 1.61 and a beta of 1.61. The company’s 50 day simple moving average is $173.56 and its 200 day simple moving average is $163.23.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $0.18. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.57 billion. As a group, equities research analysts forecast 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. Investors of record on Friday, July 5th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. Lennar’s dividend payout ratio is presently 13.60%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LEN shares. JMP Securities reaffirmed a “market outperform” rating and set a $170.00 price target on shares of Lennar in a research report on Thursday, June 20th. Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Keefe, Bruyette & Woods increased their price objective on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Finally, The Goldman Sachs Group lowered shares of Lennar from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $180.00 to $174.00 in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $172.69.

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.