MCF Advisors LLC Grows Stake in Lennar Corporation $LEN

MCF Advisors LLC grew its holdings in shares of Lennar Corporation (NYSE:LEN) by 138.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 866 shares of the construction company’s stock after purchasing an additional 503 shares during the period. MCF Advisors LLC’s holdings in Lennar were worth $96,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kwmg LLC boosted its holdings in Lennar by 12.2% in the second quarter. Kwmg LLC now owns 41,694 shares of the construction company’s stock worth $4,612,000 after acquiring an additional 4,541 shares in the last quarter. Ridgewood Investments LLC boosted its stake in Lennar by 6,497.1% in the 2nd quarter. Ridgewood Investments LLC now owns 4,618 shares of the construction company’s stock worth $511,000 after purchasing an additional 4,548 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in Lennar during the 2nd quarter worth approximately $779,000. UMB Bank n.a. increased its stake in Lennar by 77.1% during the 2nd quarter. UMB Bank n.a. now owns 1,502 shares of the construction company’s stock valued at $166,000 after purchasing an additional 654 shares in the last quarter. Finally, Butensky & Cohen Financial Security Inc. raised its holdings in shares of Lennar by 7.1% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 32,694 shares of the construction company’s stock worth $3,616,000 after buying an additional 2,161 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LEN shares. Zacks Research upgraded Lennar from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Barclays reduced their price objective on Lennar from $110.00 to $95.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 18th. Wall Street Zen lowered Lennar from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. Bank of America raised their price target on shares of Lennar from $115.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, September 18th. Finally, Raymond James Financial downgraded shares of Lennar from a “market perform” rating to an “underperform” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $123.75.

Lennar Trading Up 1.0%

Lennar stock opened at $123.13 on Wednesday. The firm has a market cap of $31.89 billion, a PE ratio of 12.17, a P/E/G ratio of 5.25 and a beta of 1.33. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $189.65. The stock’s 50 day simple moving average is $126.45 and its two-hundred day simple moving average is $115.94. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.15. The firm had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.90 EPS. Analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

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.