Howard Capital Management Inc. Increases Holdings in Lennar Corporation $LEN

Howard Capital Management Inc. grew its holdings in Lennar Corporation (NYSE:LEN) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 31,942 shares of the construction company’s stock after buying an additional 820 shares during the quarter. Howard Capital Management Inc.’s holdings in Lennar were worth $3,533,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. lifted its stake in Lennar by 1.2% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,719 shares of the construction company’s stock worth $886,000 after acquiring an additional 89 shares during the period. NorthRock Partners LLC raised its holdings in Lennar by 1.4% in the 1st quarter. NorthRock Partners LLC now owns 6,509 shares of the construction company’s stock worth $747,000 after purchasing an additional 93 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Lennar by 1.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 8,841 shares of the construction company’s stock worth $1,015,000 after purchasing an additional 95 shares during the period. EP Wealth Advisors LLC boosted its stake in shares of Lennar by 2.3% during the 1st quarter. EP Wealth Advisors LLC now owns 4,782 shares of the construction company’s stock valued at $549,000 after purchasing an additional 107 shares in the last quarter. Finally, Mather Group LLC. increased its position in shares of Lennar by 8.4% during the first quarter. Mather Group LLC. now owns 1,517 shares of the construction company’s stock valued at $174,000 after buying an additional 117 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LEN has been the topic of several research reports. Royal Bank Of Canada lifted their price objective on Lennar from $98.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, September 22nd. Zacks Research lowered Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. UBS Group increased their price objective on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Raymond James Financial lowered Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. Finally, Wells Fargo & Company decreased their price target on shares of Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, October 10th. 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 data from MarketBeat, Lennar has a consensus rating of “Hold” and an average target price of $121.75.

Lennar Trading Up 1.0%

NYSE LEN opened at $128.80 on Tuesday. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $180.12. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average price is $129.50 and its 200-day moving average price is $117.63. The stock has a market cap of $32.85 billion, a P/E ratio of 12.73, a P/E/G ratio of 5.94 and a beta of 1.37.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. 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 in the previous year, the business posted $3.90 EPS. Lennar’s revenue was down 6.4% compared to the same quarter last year. As a group, equities analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were issued a dividend of $0.50 per share. The ex-dividend date was 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 presently 19.76%.

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.