Cetera Investment Advisers Has $5.43 Million Holdings in Lennar Co. (NYSE:LEN)

Cetera Investment Advisers trimmed its stake in shares of Lennar Co. (NYSE:LEN) by 15.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,260 shares of the construction company’s stock after selling 6,537 shares during the period. Cetera Investment Advisers’ holdings in Lennar were worth $5,434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Lakewood Asset Management LLC boosted its position in Lennar by 0.8% in the 2nd quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock valued at $1,407,000 after buying an additional 70 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in Lennar by 1.5% in the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock valued at $730,000 after acquiring an additional 73 shares during the last quarter. Aaron Wealth Advisors LLC increased its position in Lennar by 5.7% in the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after purchasing an additional 74 shares during the period. Quotient Wealth Partners LLC lifted its position in Lennar by 5.0% during the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock valued at $231,000 after purchasing an additional 74 shares during the period. Finally, BBR Partners LLC boosted its stake in shares of Lennar by 3.4% in the 2nd quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock valued at $364,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LEN shares. Wedbush reissued a “neutral” rating and set a $144.00 price target on shares of Lennar in a research note on Friday, September 20th. BTIG Research cut their price target on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. StockNews.com cut Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Finally, Bank of America boosted their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Lennar presently has an average rating of “Hold” and an average price target of $181.11.

Lennar Price Performance

NYSE LEN opened at $181.21 on Wednesday. The firm’s 50 day moving average is $179.73 and its 200-day moving average is $165.82. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $49.76 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. Lennar Co. has a 12-month low of $102.90 and a 12-month high of $193.80.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.91 EPS. Equities research analysts anticipate that Lennar Co. will post 14.13 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is 13.60%.

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.