RFG Advisory LLC Sells 252 Shares of Lennar Corporation $LEN

RFG Advisory LLC lowered its holdings in Lennar Corporation (NYSE:LEN) by 5.7% in the second quarter, HoldingsChannel.com reports. The firm owned 4,168 shares of the construction company’s stock after selling 252 shares during the quarter. RFG Advisory LLC’s holdings in Lennar were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Disciplina Capital Management LLC lifted its holdings in shares of Lennar by 179.8% during the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock worth $38,000 after acquiring an additional 214 shares during the period. Oakworth Capital Inc. lifted its holdings in shares of Lennar by 139.9% during the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock worth $39,000 after acquiring an additional 200 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Lennar during the 1st quarter worth approximately $44,000. Valley National Advisers Inc. lifted its holdings in shares of Lennar by 34.7% during the 1st quarter. Valley National Advisers Inc. now owns 466 shares of the construction company’s stock worth $53,000 after acquiring an additional 120 shares during the period. Finally, Horizon Financial Services LLC bought a new stake in shares of Lennar during the 1st quarter worth approximately $66,000. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 2.4%

Shares of NYSE LEN opened at $125.78 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $189.65. The firm has a 50 day moving average price of $129.60 and a two-hundred day moving average price of $116.71. The stock has a market cap of $32.08 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 5.85 and a beta of 1.37.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. During the same period in the prior year, the company posted $3.90 EPS. The company’s revenue was down 6.4% on a year-over-year basis. As a group, equities analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, October 10th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, October 10th. Lennar’s dividend payout ratio is 19.76%.

Wall Street Analyst Weigh In

LEN has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. Bank of America dropped their price objective on shares of Lennar from $133.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Lennar in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a research note on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Lennar has an average 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.