Newbridge Financial Services Group Inc. Has $204,000 Stock Holdings in Lennar Co. (NYSE:LEN)

Newbridge Financial Services Group Inc. decreased its position in Lennar Co. (NYSE:LEN) by 12.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,360 shares of the construction company’s stock after selling 189 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Lennar were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of LEN. Rise Advisors LLC raised its stake in shares of Lennar by 484.0% in 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 in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Lennar in the 1st quarter valued at $30,000. New Covenant Trust Company N.A. bought a new position in shares of Lennar during the 1st quarter worth about $32,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Lennar during the 1st quarter valued at about $35,000. Finally, Fortitude Family Office LLC raised its position in 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 purchasing an additional 161 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Lennar stock opened at $187.20 on Thursday. The stock has a market cap of $51.41 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 1.71 and a beta of 1.61. Lennar Co. has a 12-month low of $102.90 and a 12-month high of $193.80. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The business’s 50-day simple moving average is $179.23 and its 200 day simple moving average is $165.32.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same period in the previous year, the firm posted $3.91 earnings per share. Lennar’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, research analysts anticipate that Lennar Co. will post 14.13 earnings per share for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be given a $0.50 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.07%. Lennar’s dividend payout ratio is currently 13.60%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LEN shares. Wedbush reaffirmed a “neutral” rating and set a $144.00 price objective on shares of Lennar in a report on Friday, September 20th. Citigroup upped their price target on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Evercore ISI cut their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $181.94.

Lennar Company 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.