FORA Capital LLC Lowers Stock Holdings in Lennar Corporation $LEN

FORA Capital LLC cut its holdings in shares of Lennar Corporation (NYSE:LEN) by 24.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 34,008 shares of the construction company’s stock after selling 11,274 shares during the quarter. FORA Capital LLC’s holdings in Lennar were worth $3,762,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in LEN. FNY Investment Advisers LLC acquired a new stake in Lennar during the second quarter worth about $33,000. Disciplina Capital Management LLC lifted its stake in shares of Lennar by 179.8% in the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock worth $38,000 after acquiring an additional 214 shares in the last quarter. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Lennar during the second quarter worth approximately $43,000. Cary Street Partners Financial LLC bought a new stake in shares of Lennar in the 2nd quarter worth about $47,000. Finally, SBI Securities Co. Ltd. grew its position in shares of Lennar by 190.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 573 shares of the construction company’s stock worth $63,000 after acquiring an additional 376 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Trading Up 0.1%

Lennar stock opened at $119.31 on Friday. The company’s fifty day moving average price is $123.50 and its two-hundred day moving average price is $121.37. Lennar Corporation has a one year low of $98.42 and a one year high of $156.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The company has a market capitalization of $30.43 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 5.00 and a beta of 1.38.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 18th. The construction company reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). The company had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.90 EPS. On average, analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Friday, October 10th were issued a $0.50 dividend. 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 1.7%. Lennar’s dividend payout ratio (DPR) is 19.76%.

Analyst Ratings Changes

LEN has been the subject of a number of recent research reports. BTIG Research assumed coverage on shares of Lennar in a research report on Tuesday, December 2nd. They set a “sell” rating and a $96.00 price objective for the company. JPMorgan Chase & Co. restated an “underweight” rating and set a $115.00 price target (down from $118.00) on shares of Lennar in a research report on Thursday, December 4th. Royal Bank Of Canada lifted their target price on Lennar from $98.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, September 22nd. Zacks Research upgraded Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 4th. Finally, JMP Securities lifted their target price on shares of Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Lennar currently has an average rating of “Hold” and an average target price of $121.77.

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.