Cetera Investment Advisers Has $7.68 Million Stock Position in Lennar Corporation $LEN

Key Points

• Cetera Investment Advisers increased its Lennar stake by 16.8% in the first quarter, bringing its holdings to 88,408 shares valued at approximately $7.68 million. Institutional investors collectively own 81.1% of Lennar’s outstanding stock.
• Wall Street sentiment remains cautious: analysts give Lennar a consensus “Reduce” rating, with one Buy, seven Hold, and ten Sell ratings, and an average price target of $92.80.
• Lennar’s latest quarter exceeded EPS expectations ($1.31 versus $1.24) but revenue fell 5.2% year over year to $7.94 billion. The company also paid a quarterly dividend of $0.50 per share, representing a 2.4% annualized yield.

Cetera Investment Advisers boosted its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 16.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 88,408 shares of the construction company's stock after purchasing an additional 12,685 shares during the quarter. Cetera Investment Advisers' holdings in Lennar were worth $7,677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Phillip James Consulting Co. acquired a new stake in shares of Lennar during the 1st quarter worth approximately $30,000. High Point Wealth Management LLC acquired a new position in shares of Lennar during the 4th quarter valued at $31,000. DV Equities LLC bought a new position in Lennar during the fourth quarter worth $31,000. Global Assets Advisory LLC acquired a new stake in Lennar in the first quarter worth $39,000. Finally, Quarry LP acquired a new stake in Lennar in the fourth quarter worth $41,000. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LEN shares. JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $80.00 to $77.00 and set an "underweight" rating on the stock in a report on Tuesday, June 16th. Keefe, Bruyette & Woods reduced their target price on Lennar from $86.00 to $85.00 and set an "underperform" rating for the company in a research note on Wednesday, June 17th. BTIG Research set a $67.00 target price on Lennar in a research report on Monday, June 15th. Citigroup dropped their price target on Lennar from $104.00 to $88.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 15th. Finally, Seaport Research Partners reiterated a "sell" rating and issued a $74.00 price target (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $92.80.

Lennar Stock Down 1.5%

Lennar stock opened at $82.53 on Friday. The firm has a market capitalization of $19.88 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 2.73 and a beta of 1.38. The firm's fifty day moving average price is $87.83 and its two-hundred day moving average price is $96.29. Lennar Corporation has a 1-year low of $79.82 and a 1-year high of $144.24. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19.

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The company had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $8.08 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. The firm's revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities research analysts predict that Lennar Corporation will post 5.52 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, July 10th. Lennar's payout ratio is currently 31.30%.

Lennar Company Profile

Lennar Corporation NYSE: LEN is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.

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