Sequoia Financial Advisors LLC Purchases 456 Shares of Lennar Co. (NYSE:LEN)

Sequoia Financial Advisors LLC lifted its stake in shares of Lennar Co. (NYSE:LEN) by 10.3% during the third quarter, HoldingsChannel.com reports. The firm owned 4,890 shares of the construction company’s stock after purchasing an additional 456 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Lennar were worth $917,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners increased its position in shares of Lennar by 21.5% during the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock valued at $4,089,000 after purchasing an additional 4,207 shares during the last quarter. Norden Group LLC purchased a new position in shares of Lennar in the 1st quarter valued at approximately $5,592,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Lennar by 544.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,248 shares of the construction company’s stock valued at $5,890,000 after purchasing an additional 28,935 shares during the period. Fulton Bank N.A. purchased a new position in Lennar during the second quarter valued at $477,000. Finally, Rockport Wealth LLC purchased a new position in Lennar during the first quarter valued at $512,000. 81.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on LEN. StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Keefe, Bruyette & Woods boosted their price target on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Evercore ISI lowered their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Bank of America boosted their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada boosted their target price on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $181.11.

Lennar Stock Down 1.5 %

LEN stock opened at $173.28 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The firm has a market capitalization of $47.00 billion, a PE ratio of 11.48, a P/E/G ratio of 1.62 and a beta of 1.61. The company’s 50 day simple moving average is $182.05 and its 200-day simple moving average is $167.08. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $193.80.

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. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. Lennar’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.91 earnings per share. Equities analysts expect that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is 13.25%.

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.