Lennar Co. (NYSE:LEN) Stake Reduced by Cetera Investment Advisers

Cetera Investment Advisers trimmed its position in shares of Lennar Co. (NYSE:LEN - Free Report) by 15.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,260 shares of the construction company's stock after selling 6,537 shares during the period. Cetera Investment Advisers' holdings in Lennar were worth $5,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in Lennar by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company's stock valued at $452,886,000 after purchasing an additional 396,951 shares in the last quarter. D1 Capital Partners L.P. grew its stake in shares of Lennar by 428.9% in the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company's stock valued at $362,685,000 after buying an additional 1,962,447 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Lennar by 20.9% during the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company's stock valued at $302,084,000 after buying an additional 348,553 shares during the period. Nordea Investment Management AB lifted its position in Lennar by 3.6% during the 1st quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company's stock worth $303,585,000 after acquiring an additional 60,713 shares in the last quarter. Finally, Eminence Capital LP grew its position in Lennar by 14.6% in the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company's stock valued at $98,220,000 after acquiring an additional 83,316 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Performance

NYSE:LEN traded down $0.72 during mid-day trading on Wednesday, hitting $180.49. The stock had a trading volume of 1,457,031 shares, compared to its average volume of 2,070,794. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $193.80. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $49.56 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 1.71 and a beta of 1.61. The company has a 50 day simple moving average of $179.74 and a 200-day simple moving average of $165.92.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.91 EPS. On average, research analysts expect that Lennar Co. will post 14.13 earnings per share for the current fiscal year.

Lennar Dividend Announcement

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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, October 9th. Lennar's dividend payout ratio is currently 13.60%.

Analysts Set New Price Targets

LEN has been the subject of several analyst reports. 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 research note on Wednesday, September 4th. Raymond James downgraded Lennar from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 2nd. Zelman & Associates raised Lennar from a "neutral" rating to an "outperform" rating in a report on Monday, September 23rd. The Goldman Sachs Group downgraded 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 report on Monday, July 22nd. Finally, Wedbush reissued a "neutral" rating and set a $144.00 price target on shares of Lennar in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $181.11.

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.