Private Advisory Group LLC Cuts Stock Position in Lennar Co. (NYSE:LEN)

Private Advisory Group LLC decreased its stake in Lennar Co. (NYSE:LEN - Free Report) by 45.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,708 shares of the construction company's stock after selling 15,617 shares during the period. Private Advisory Group LLC's holdings in Lennar were worth $3,507,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC raised its position in shares of Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company's stock worth $25,000 after acquiring an additional 121 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in Lennar during the first quarter worth about $30,000. New Covenant Trust Company N.A. purchased a new stake in shares of Lennar during the first quarter valued at approximately $32,000. Redmont Wealth Advisors LLC purchased a new stake in Lennar during the first quarter worth about $35,000. Finally, Fortitude Family Office LLC increased its stake in shares of Lennar by 223.6% during the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company's stock worth $35,000 after purchasing an additional 161 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Performance

NYSE LEN traded down $0.05 on Friday, reaching $178.15. 1,766,160 shares of the stock were exchanged, compared to its average volume of 2,065,223. The firm has a market capitalization of $48.92 billion, a PE ratio of 11.80, a PEG ratio of 1.68 and a beta of 1.61. Lennar Co. has a one year low of $102.90 and a one year high of $193.80. The company's 50-day simple moving average is $179.86 and its two-hundred day simple moving average is $166.11. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data 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 return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the prior year, the company posted $3.91 earnings per share. The business's quarterly revenue was up 7.9% compared to the same quarter last year. Analysts expect that Lennar Co. will post 14.28 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Wednesday, October 9th. Lennar's dividend payout ratio (DPR) is presently 13.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Lennar from $183.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. Zelman & Associates upgraded shares of Lennar from a "neutral" rating to an "outperform" rating in a research report on Monday, September 23rd. Bank of America boosted their price objective on shares of Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, September 19th. Argus raised their price target on Lennar from $175.00 to $180.00 and gave the stock a "buy" rating in a research report on Thursday, June 27th. Finally, JMP Securities boosted their price target on Lennar from $170.00 to $210.00 and gave the company a "market outperform" rating in a report on Wednesday, September 25th. Two equities 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 MarketBeat, Lennar currently has a consensus rating of "Hold" and an average target price of $181.11.

About Lennar

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.