KCM Investment Advisors LLC Reduces Position in Lennar Co. (NYSE:LEN)

KCM Investment Advisors LLC decreased its holdings in Lennar Co. (NYSE:LEN) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,094 shares of the construction company’s stock after selling 700 shares during the quarter. KCM Investment Advisors LLC’s holdings in Lennar were worth $1,813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Rise Advisors LLC lifted its stake in shares of Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after purchasing an additional 121 shares during the period. J.Safra Asset Management Corp purchased a new position in Lennar in the 1st quarter worth approximately $30,000. New Covenant Trust Company N.A. bought a new position in Lennar in the 1st quarter worth approximately $32,000. Redmont Wealth Advisors LLC purchased a new position in shares of Lennar in the first quarter worth $35,000. Finally, Fortitude Family Office LLC boosted its position in shares of 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 acquiring an additional 161 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a report on Thursday, June 20th. The Goldman Sachs Group lowered 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. Argus increased their price target on Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company increased their target price on Lennar from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Lennar has a consensus rating of “Hold” and a consensus price target of $169.13.

Lennar Stock Up 0.9 %

LEN opened at $182.06 on Friday. The business’s fifty day simple moving average is $165.96 and its 200 day simple moving average is $160.98. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $186.60. The firm has a market cap of $49.99 billion, a P/E ratio of 12.38, a PEG ratio of 1.60 and a beta of 1.60. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08.

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

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, July 5th. This represents a $2.00 annualized dividend and a yield of 1.10%. Lennar’s dividend payout ratio is presently 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.