Choreo LLC Takes $951,000 Position in Lennar Co. (NYSE:LEN)

Choreo LLC acquired a new stake in shares of Lennar Co. (NYSE:LEN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,484 shares of the construction company’s stock, valued at approximately $951,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. lifted its holdings in shares of Lennar by 5.5% during the 4th quarter. Gilbert & Cook Inc. now owns 4,053 shares of the construction company’s stock valued at $604,000 after buying an additional 211 shares during the period. Private Advisor Group LLC lifted its holdings in Lennar by 1.2% in the fourth quarter. Private Advisor Group LLC now owns 8,366 shares of the construction company’s stock valued at $1,247,000 after acquiring an additional 97 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in shares of Lennar by 89.7% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,652 shares of the construction company’s stock valued at $246,000 after purchasing an additional 781 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Lennar by 1.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock valued at $663,000 after purchasing an additional 70 shares during the last quarter. Finally, Boston Partners grew its position in Lennar by 143.5% during the fourth quarter. Boston Partners now owns 19,568 shares of the construction company’s stock valued at $2,916,000 after buying an additional 11,531 shares during the period. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the subject of several analyst reports. Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $180.00 to $174.00 in a research report on Monday, July 22nd. JPMorgan Chase & Co. lowered their price objective on Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Wedbush reissued a “neutral” rating and issued a $144.00 target price on shares of Lennar in a report on Wednesday. Finally, Evercore ISI lifted their price target on shares of Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $172.69.

Lennar Stock Up 1.8 %

LEN opened at $181.38 on Friday. The company has a market capitalization of $49.81 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.63 and a beta of 1.61. The firm has a 50-day simple moving average of $171.80 and a two-hundred day simple moving average of $162.68. 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 Co. has a 52 week low of $102.90 and a 52 week high of $186.60.

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

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Friday, July 5th. Lennar’s payout ratio is 13.60%.

Lennar Company 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.