Lake Street Advisors Group LLC Has $582,000 Stock Holdings in Lennar Co. (NYSE:LEN)

Lake Street Advisors Group LLC trimmed its holdings in shares of Lennar Co. (NYSE:LEN) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,105 shares of the construction company’s stock after selling 60 shares during the period. Lake Street Advisors Group LLC’s holdings in Lennar were worth $582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of LEN. Boston Partners increased its stake in shares of Lennar by 21.5% in the first quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after acquiring an additional 4,207 shares during the last quarter. Norden Group LLC bought a new stake in Lennar in the first quarter worth approximately $5,592,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Lennar by 544.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,248 shares of the construction company’s stock worth $5,890,000 after purchasing an additional 28,935 shares during the last quarter. Fulton Bank N.A. bought a new position in shares of Lennar during the 2nd quarter valued at $477,000. Finally, Rockport Wealth LLC bought a new stake in Lennar in the first quarter worth $512,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 1.5 %

Shares of LEN opened at $173.28 on Friday. The firm has a market capitalization of $47.00 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.62 and a beta of 1.61. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The business’s fifty day moving average price is $182.05 and its two-hundred day moving average price is $167.08.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.91 EPS. On average, analysts predict that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. Lennar’s payout ratio is presently 13.25%.

Wall Street Analyst Weigh In

LEN has been the topic of several recent analyst reports. Wells Fargo & Company downgraded shares of Lennar from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $205.00 to $190.00 in a report on Monday, October 7th. Bank of America lifted 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. Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Bank Of America (Bofa) lifted their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Finally, The Goldman Sachs Group downgraded Lennar from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $180.00 to $174.00 in a report on Monday, July 22nd. Two equities research 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.