Federated Hermes Inc. Has $682,000 Stock Position in Lennar Co. (NYSE:LEN)

Federated Hermes Inc. cut its stake in shares of Lennar Co. (NYSE:LEN) by 48.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,553 shares of the construction company’s stock after selling 4,336 shares during the period. Federated Hermes Inc.’s holdings in Lennar were worth $682,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Rise Advisors LLC increased its holdings in Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after buying an additional 121 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Lennar during the 1st quarter worth about $30,000. New Covenant Trust Company N.A. acquired a new stake in Lennar in the 1st quarter valued at about $32,000. Redmont Wealth Advisors LLC bought a new position in Lennar during the first quarter worth about $35,000. Finally, Fortitude Family Office LLC increased its position in Lennar by 223.6% during the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after buying an additional 161 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Lennar Price Performance

Shares of NYSE:LEN opened at $182.19 on Monday. The firm has a 50 day moving average of $176.53 and a 200-day moving average of $164.01. 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 stock has a market capitalization of $50.03 billion, a PE ratio of 12.39, a PEG ratio of 1.61 and a beta of 1.61.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The firm had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same period in the prior year, the company earned $3.91 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts predict that Lennar Co. will post 14.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI lifted their target price on Lennar from $237.00 to $240.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods upped their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. StockNews.com upgraded shares of Lennar from a “hold” rating to a “buy” rating in a research note on Friday. JMP Securities reiterated a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $174.61.

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.