FNY Investment Advisers LLC Purchases New Position in Lennar Corporation $LEN

FNY Investment Advisers LLC purchased a new stake in Lennar Corporation (NYSE:LEN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 300 shares of the construction company’s stock, valued at approximately $33,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Beech Hill Advisors Inc. purchased a new position in shares of Lennar in the 2nd quarter valued at about $1,443,000. Mid American Wealth Advisory Group Inc. purchased a new stake in Lennar during the 2nd quarter worth approximately $43,000. Bogart Wealth LLC increased its stake in Lennar by 4.3% during the 2nd quarter. Bogart Wealth LLC now owns 58,698 shares of the construction company’s stock worth $6,493,000 after buying an additional 2,400 shares in the last quarter. Lyell Wealth Management LP increased its stake in Lennar by 1.1% during the 2nd quarter. Lyell Wealth Management LP now owns 84,184 shares of the construction company’s stock worth $9,312,000 after buying an additional 899 shares in the last quarter. Finally, Unison Advisors LLC increased its stake in Lennar by 0.5% during the 2nd quarter. Unison Advisors LLC now owns 37,343 shares of the construction company’s stock worth $4,131,000 after buying an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 0.3%

LEN opened at $127.69 on Friday. Lennar Corporation has a one year low of $98.42 and a one year high of $180.12. The stock has a market capitalization of $32.56 billion, a PE ratio of 12.62, a P/E/G ratio of 5.93 and a beta of 1.37. The business’s 50 day moving average price is $129.55 and its 200 day moving average price is $117.33. 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 (NYSE:LEN) last released its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The firm had revenue of $8.81 billion for the quarter, compared to analysts’ expectations of $9.01 billion. During the same period in the prior year, the firm posted $3.90 earnings per share. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, equities research analysts expect that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Citigroup reiterated an “outperform” rating on shares of Lennar in a research note on Monday, September 22nd. Zacks Research lowered Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lennar in a research note on Wednesday, October 8th. Royal Bank Of Canada upped their price target on Lennar from $98.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, September 22nd. Finally, JMP Securities upped their price target on Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a research report on Monday, September 22nd. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $121.75.

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.