Advisors Capital Management LLC Has $5.21 Million Stock Holdings in Lennar Corporation $LEN

Advisors Capital Management LLC trimmed its position in Lennar Corporation (NYSE:LEN) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,056 shares of the construction company’s stock after selling 727 shares during the quarter. Advisors Capital Management LLC’s holdings in Lennar were worth $5,205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LEN. FNY Investment Advisers LLC bought a new stake in Lennar in the second quarter valued at approximately $33,000. Disciplina Capital Management LLC increased its holdings in shares of Lennar by 179.8% during the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock worth $38,000 after acquiring an additional 214 shares during the last quarter. Mid American Wealth Advisory Group Inc. bought a new stake in Lennar in the 2nd quarter valued at $43,000. SBI Securities Co. Ltd. lifted its holdings in Lennar by 190.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 573 shares of the construction company’s stock valued at $63,000 after purchasing an additional 376 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in Lennar during the first quarter worth $66,000. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

NYSE LEN opened at $120.93 on Friday. The firm has a 50-day moving average price of $126.36 and a two-hundred day moving average price of $119.19. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $180.12. The company has a market capitalization of $30.84 billion, a P/E ratio of 11.95, a P/E/G ratio of 5.78 and a beta of 1.33. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 18th. The construction company reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). The business had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.90 earnings per share. Analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, October 10th. Lennar’s dividend payout ratio is presently 19.76%.

Analyst Ratings Changes

LEN has been the topic of several research analyst reports. UBS Group increased their price objective on shares of Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Zacks Research lowered shares of Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 7th. Evercore ISI lowered their price target on shares of Lennar from $118.00 to $114.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. Wall Street Zen upgraded shares of Lennar from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Bank of America decreased their target price on Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Lennar has a consensus rating of “Hold” and a consensus target price of $121.75.

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.