SG Americas Securities LLC Increases Position in Lennar Corporation $LEN

SG Americas Securities LLC grew its holdings in shares of Lennar Corporation (NYSE:LEN) by 266.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 107,717 shares of the construction company’s stock after purchasing an additional 78,345 shares during the period. SG Americas Securities LLC’s holdings in Lennar were worth $11,915,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in Lennar during the second quarter valued at $33,000. Disciplina Capital Management LLC increased its holdings in shares of Lennar by 179.8% during the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock valued at $38,000 after acquiring an additional 214 shares in the last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Lennar in the 2nd quarter worth about $43,000. SBI Securities Co. Ltd. boosted its stake in Lennar by 190.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 573 shares of the construction company’s stock worth $63,000 after purchasing an additional 376 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in Lennar during the 1st quarter valued at about $66,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Shares of LEN opened at $120.93 on Monday. The firm has a fifty day simple moving average of $126.36 and a two-hundred day simple moving average of $119.35. The firm has a market cap of $30.84 billion, a PE ratio of 11.95, a P/E/G ratio of 5.78 and a beta of 1.33. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $180.12.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 18th. The construction company reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). Lennar had a return on equity of 11.09% and a net margin of 7.72%.The firm had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. During the same quarter last year, the business earned $3.90 earnings per share. The business’s quarterly revenue was down 6.4% on a year-over-year basis. On average, equities analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.7%. Lennar’s dividend payout ratio is presently 19.76%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JMP Securities lifted their target price on shares of Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a report on Monday, September 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, September 22nd. Raymond James Financial downgraded Lennar from a “market perform” rating to an “underperform” rating in a research note on Monday, September 22nd. Wells Fargo & Company reduced their target price on Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. Finally, UBS Group boosted their price target on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $121.75.

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.