Moors & Cabot Inc. Sells 182 Shares of Lennar Co. (NYSE:LEN)

Moors & Cabot Inc. reduced its position in shares of Lennar Co. (NYSE:LEN) by 5.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,009 shares of the construction company’s stock after selling 182 shares during the quarter. Moors & Cabot Inc.’s holdings in Lennar were worth $451,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in shares of Lennar by 3.6% during the 1st quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock worth $303,585,000 after acquiring an additional 60,713 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of Lennar by 3.8% in the first quarter. Bamco Inc. NY now owns 648,867 shares of the construction company’s stock valued at $111,592,000 after purchasing an additional 23,483 shares during the last quarter. TCW Group Inc. raised its position in shares of Lennar by 15.9% in the second quarter. TCW Group Inc. now owns 610,549 shares of the construction company’s stock valued at $91,503,000 after purchasing an additional 83,896 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Lennar by 157.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock worth $98,889,000 after buying an additional 351,698 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Lennar during the 1st quarter worth about $61,807,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Up 2.1 %

Shares of NYSE LEN opened at $192.45 on Friday. The stock has a 50-day moving average price of $176.08 and a two-hundred day moving average price of $163.80. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $193.80. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $52.85 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.61 and a beta of 1.61.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, beating the consensus estimate of $3.20 by $0.18. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.57 billion. Lennar had a net margin of 11.58% and a return on equity of 15.93%. As a group, analysts forecast that Lennar Co. will post 14.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LEN. BTIG Research cut their price objective on shares of Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Royal Bank of Canada restated an “underperform” rating and issued a $145.00 price target on shares of Lennar in a research note on Thursday, June 20th. Citigroup reiterated a “neutral” rating and set a $164.00 price objective (down previously from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Argus upped their price target on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, The Goldman Sachs Group cut shares of Lennar from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $180.00 to $174.00 in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $173.71.

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.