Concurrent Investment Advisors LLC Acquires 823 Shares of Lennar Corporation $LEN

Concurrent Investment Advisors LLC lifted its holdings in Lennar Corporation (NYSE:LEN) by 15.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,154 shares of the construction company’s stock after acquiring an additional 823 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Lennar were worth $681,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in Lennar by 45.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock valued at $1,020,866,000 after buying an additional 2,777,567 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Lennar during the 2nd quarter valued at $424,950,000. Brave Warrior Advisors LLC raised its holdings in Lennar by 23.4% during the 1st quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock valued at $251,323,000 after buying an additional 415,218 shares during the last quarter. Eminence Capital LP raised its holdings in Lennar by 130.8% during the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock valued at $181,523,000 after buying an additional 896,264 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Lennar by 20.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 736,490 shares of the construction company’s stock valued at $84,534,000 after buying an additional 123,266 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LEN has been the subject of a number of recent analyst reports. Bank of America lowered their price target on shares of Lennar from $133.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, October 10th. The Goldman Sachs Group boosted their price objective on shares of Lennar from $122.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. 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 report on Monday, September 22nd. Wedbush reissued a “neutral” rating and set a $130.00 price objective on shares of Lennar in a research report on Monday, September 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Lennar from $97.00 to $92.00 and set a “neutral” rating on the stock in a research report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $121.75.

Lennar Stock Up 2.4%

NYSE:LEN opened at $125.78 on Friday. The firm’s 50-day moving average price is $129.60 and its 200-day moving average price is $116.70. The company has a market capitalization of $32.08 billion, a PE ratio of 12.43, a P/E/G 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. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $189.65.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. The firm had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.90 EPS. On average, equities analysts predict that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

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

Lennar 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.