Concurrent Investment Advisors LLC Boosts Stock Holdings in Lennar Corporation $LEN

Concurrent Investment Advisors LLC raised its holdings in Lennar Corporation (NYSE:LEN) by 15.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,154 shares of the construction company’s stock after purchasing an additional 823 shares during the period. Concurrent Investment Advisors LLC’s holdings in Lennar were worth $681,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its stake in shares of Lennar by 45.4% in the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock worth $1,020,866,000 after purchasing an additional 2,777,567 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Lennar in the second quarter worth about $424,950,000. Brave Warrior Advisors LLC grew its stake in Lennar by 23.4% during the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock valued at $251,323,000 after acquiring an additional 415,218 shares in the last quarter. Eminence Capital LP grew its stake in Lennar by 130.8% during the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock valued at $181,523,000 after acquiring an additional 896,264 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Lennar by 20.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 736,490 shares of the construction company’s stock valued at $84,534,000 after acquiring an additional 123,266 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LEN. Evercore ISI reduced their price objective on shares of Lennar from $118.00 to $114.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lennar in a research note on Wednesday, October 8th. Raymond James Financial cut shares of Lennar from a “market perform” rating to an “underperform” rating in a research note on Monday, September 22nd. Keefe, Bruyette & Woods reduced their price objective on shares of Lennar from $128.00 to $114.00 and set a “market perform” rating for the company in a research note on Friday, June 20th. Finally, Royal Bank Of Canada boosted their price objective on shares of Lennar from $98.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $121.75.

Lennar Trading Up 2.4%

Shares of Lennar stock opened at $125.78 on Friday. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $189.65. The firm has a market cap of $32.08 billion, a PE ratio of 12.43, a PEG ratio of 5.72 and a beta of 1.37. 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 50 day simple moving average of $129.60 and a two-hundred day simple moving average of $116.70.

Lennar (NYSE:LEN) last announced 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 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%. Lennar’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.90 earnings per share. Analysts expect that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, October 10th. Lennar’s payout ratio is presently 19.76%.

Lennar Company 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.