NorthRock Partners LLC Sells 562 Shares of Lennar Corporation $LEN

NorthRock Partners LLC decreased its holdings in shares of Lennar Corporation (NYSE:LEN) by 8.6% in the second quarter, Holdings Channel.com reports. The firm owned 5,947 shares of the construction company’s stock after selling 562 shares during the period. NorthRock Partners LLC’s holdings in Lennar were worth $658,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in shares of Lennar during the first quarter valued at approximately $30,000. Disciplina Capital Management LLC increased its position in shares of Lennar by 179.8% during the first 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 in the last quarter. Oakworth Capital Inc. increased its position in shares of Lennar by 139.9% during the first quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock valued at $39,000 after acquiring an additional 200 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Lennar during the first quarter valued at approximately $44,000. Finally, Valley National Advisers Inc. increased its position in shares of Lennar by 34.7% during the first quarter. Valley National Advisers Inc. now owns 466 shares of the construction company’s stock valued at $53,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 3.6%

Shares of Lennar stock opened at $122.26 on Wednesday. The company’s fifty day simple moving average is $129.38 and its 200-day simple moving average is $116.53. The stock has a market capitalization of $31.18 billion, a PE ratio of 12.08, a P/E/G ratio of 5.49 and a beta of 1.37. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $189.65. 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 (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.15. The business had revenue of $8.81 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $3.90 EPS. As a group, equities analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LEN shares. Wells Fargo & Company reduced 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 report on Friday, October 10th. Citigroup reissued an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Lennar in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their target price on shares of Lennar from $122.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Finally, Keefe, Bruyette & Woods dropped 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, June 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.