BBR Partners LLC Acquires 79 Shares of Lennar Co. (NYSE:LEN)

BBR Partners LLC raised its holdings in shares of Lennar Co. (NYSE:LEN) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,427 shares of the construction company’s stock after purchasing an additional 79 shares during the quarter. BBR Partners LLC’s holdings in Lennar were worth $364,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Rise Advisors LLC boosted its position in Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after buying an additional 121 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Lennar during the first quarter valued at approximately $30,000. New Covenant Trust Company N.A. purchased a new stake in shares of Lennar in the first quarter valued at approximately $32,000. Redmont Wealth Advisors LLC purchased a new position in Lennar during the 1st quarter worth $35,000. Finally, Fortitude Family Office LLC raised its position in Lennar by 223.6% during the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after purchasing an additional 161 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on LEN. JPMorgan Chase & Co. cut their price target on Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Royal Bank of Canada restated an “underperform” rating and issued a $145.00 price target on shares of Lennar in a report on Thursday, June 20th. Keefe, Bruyette & Woods increased their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday. Wedbush raised shares of Lennar from an “underperform” rating to a “neutral” rating and set a $144.00 price objective for the company in a research note on Tuesday, July 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $170.00 target price on shares of Lennar in a research report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $172.06.

Lennar Stock Down 0.3 %

LEN stock opened at $177.83 on Friday. 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. The stock has a market capitalization of $48.83 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.65 and a beta of 1.61. The firm has a 50 day moving average of $168.33 and a 200 day moving average of $161.73.

Lennar (NYSE:LEN) last announced its quarterly earnings data 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. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.57 billion. Lennar had a net margin of 11.58% and a return on equity of 15.93%. Sell-side analysts forecast that Lennar Co. will post 14.16 earnings per share for the current 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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Friday, July 5th. Lennar’s payout ratio is 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.