Rockefeller Capital Management L.P. Increases Stake in Lennar Corporation $LEN

Rockefeller Capital Management L.P. raised its holdings in shares of Lennar Corporation (NYSE:LEN) by 3.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 33,012 shares of the construction company’s stock after acquiring an additional 970 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Lennar were worth $3,652,000 as of its most recent filing with the Securities & Exchange Commission.

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

Lennar Trading Up 5.8%

Shares of Lennar stock opened at $123.04 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $180.12. The firm has a market cap of $31.38 billion, a PE ratio of 12.16, a PEG ratio of 5.78 and a beta of 1.33. The company has a 50 day simple moving average of $124.17 and a two-hundred day simple moving average of $119.57.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, September 18th. The construction company reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.14). Lennar had a net margin of 7.72% and a return on equity of 11.09%. The company had revenue of $8.81 billion for the quarter, compared to analysts’ expectations of $9.01 billion. During the same quarter last year, the business posted $3.90 EPS. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. Analysts expect that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company 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 annualized dividend and a yield of 1.6%. Lennar’s payout ratio is 19.76%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LEN shares. Wells Fargo & Company dropped their price objective on Lennar from $135.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, October 10th. JMP Securities increased their price target on shares of Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a report on Monday, September 22nd. Raymond James Financial lowered shares of Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. Bank of America decreased their target price on shares of Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Finally, UBS Group increased their target price on shares of Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.