Clear Harbor Asset Management LLC Sells 58 Shares of Lennar Co. (NYSE:LEN)

Clear Harbor Asset Management LLC decreased its position in Lennar Co. (NYSE:LEN) by 0.4% in the third quarter, Holdings Channel.com reports. The firm owned 13,198 shares of the construction company’s stock after selling 58 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Lennar were worth $2,474,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of LEN. Lakewood Asset Management LLC boosted its stake in Lennar by 0.8% during the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after acquiring an additional 70 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of Lennar by 1.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after buying an additional 73 shares during the last quarter. Aaron Wealth Advisors LLC raised its stake in Lennar by 5.7% during the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock valued at $207,000 after buying an additional 74 shares during the last quarter. Quotient Wealth Partners LLC boosted its holdings in Lennar by 5.0% in the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after acquiring an additional 74 shares in the last quarter. Finally, BBR Partners LLC grew its stake in shares of Lennar by 3.4% in the second quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock worth $364,000 after acquiring an additional 79 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. JMP Securities upped their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Evercore ISI reduced their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. Finally, StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lennar has a consensus rating of “Hold” and a consensus price target of $181.11.

Lennar Stock Performance

LEN opened at $173.28 on Friday. Lennar Co. has a 12-month low of $102.90 and a 12-month high of $193.80. The company has a market cap of $47.00 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.62 and a beta of 1.61. 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 company’s 50 day moving average is $182.08 and its 200 day moving average is $167.15.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter in the previous year, the firm posted $3.91 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Lennar Co. will post 14.18 EPS for the current year.

Lennar Dividend Announcement

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

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.