Janney Montgomery Scott LLC Acquires New Stake in Lennar Corporation (NYSE:LEN)

Janney Montgomery Scott LLC acquired a new stake in Lennar Corporation (NYSE:LEN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 92,775 shares of the construction company's stock, valued at approximately $10,649,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Howard Capital Management Inc. raised its holdings in Lennar by 0.3% in the fourth quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company's stock valued at $3,932,000 after acquiring an additional 81 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in Lennar by 3.1% in the fourth quarter. Lake Street Advisors Group LLC now owns 3,201 shares of the construction company's stock valued at $436,000 after acquiring an additional 96 shares in the last quarter. Horizon Investments LLC raised its holdings in Lennar by 2.1% in the fourth quarter. Horizon Investments LLC now owns 4,818 shares of the construction company's stock valued at $629,000 after acquiring an additional 98 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in Lennar by 9.1% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 1,200 shares of the construction company's stock valued at $164,000 after acquiring an additional 100 shares in the last quarter. Finally, Unison Advisors LLC raised its holdings in Lennar by 0.3% in the fourth quarter. Unison Advisors LLC now owns 37,040 shares of the construction company's stock valued at $5,051,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Royal Bank Of Canada reduced their target price on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a report on Wednesday. Wedbush reaffirmed a "neutral" rating and issued a $130.00 target price on shares of Lennar in a report on Wednesday. Seaport Res Ptn raised shares of Lennar from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Keefe, Bruyette & Woods reduced their target price on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a report on Friday. Finally, UBS Group cut their price objective on shares of Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lennar has a consensus rating of "Hold" and an average target price of $132.50.

Lennar Stock Performance

Shares of Lennar stock traded up $2.95 during trading on Friday, reaching $106.36. The company's stock had a trading volume of 5,779,425 shares, compared to its average volume of 2,960,873. The company has a 50-day moving average price of $107.78 and a two-hundred day moving average price of $121.30. The firm has a market cap of $28.06 billion, a PE ratio of 8.89, a P/E/G ratio of 4.12 and a beta of 1.34. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12.

Lennar (NYSE:LEN - Get Free Report) last announced its earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business's revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.45 earnings per share. On average, analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.88%. Lennar's payout ratio is 16.54%.

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.