Steward Partners Investment Advisory LLC Cuts Stock Holdings in Lennar Corporation $LEN

Steward Partners Investment Advisory LLC lessened its holdings in Lennar Corporation (NYSE:LEN) by 68.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,717 shares of the construction company’s stock after selling 21,470 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Lennar were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of LEN. Brighton Jones LLC raised its position in Lennar by 27.9% in the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after acquiring an additional 377 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Lennar by 5.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,345 shares of the construction company’s stock valued at $614,000 after acquiring an additional 253 shares during the period. Arkadios Wealth Advisors grew its holdings in shares of Lennar by 126.5% in the 1st quarter. Arkadios Wealth Advisors now owns 4,340 shares of the construction company’s stock worth $498,000 after acquiring an additional 2,424 shares during the period. Moors & Cabot Inc. increased its stake in Lennar by 40.2% in the 1st quarter. Moors & Cabot Inc. now owns 4,397 shares of the construction company’s stock valued at $505,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Banco Santander S.A. boosted its position in Lennar by 106.5% during the first quarter. Banco Santander S.A. now owns 3,112 shares of the construction company’s stock worth $357,000 after purchasing an additional 1,605 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LEN shares. Raymond James Financial cut Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. Royal Bank Of Canada lifted their target price on shares of Lennar from $98.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, September 22nd. JMP Securities increased their price target on shares of Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a research report on Monday, September 22nd. Wedbush restated a “neutral” rating and set a $130.00 price objective on shares of Lennar in a research report on Monday, September 22nd. Finally, Wells Fargo & Company dropped their price target on Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $121.75.

Lennar Trading Down 0.6%

Shares of LEN opened at $130.45 on Tuesday. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $175.65. The company has a market capitalization of $33.27 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 5.78 and a beta of 1.33. The stock has a fifty day moving average of $124.08 and a two-hundred day moving average of $120.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 18th. The construction company reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). Lennar had a net margin of 7.72% and a return on equity of 11.09%. The business had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. During the same period in the prior year, the firm earned $3.90 EPS. Lennar’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Friday, October 10th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. Lennar’s dividend payout ratio (DPR) is currently 19.76%.

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.