AlphaCentric Advisors LLC Has $91,000 Stock Position in Lennar Co. (NYSE:LEN)

AlphaCentric Advisors LLC cut its position in Lennar Co. (NYSE:LEN) by 19.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 608 shares of the construction company’s stock after selling 149 shares during the period. AlphaCentric Advisors LLC’s holdings in Lennar were worth $91,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LEN. Rise Advisors LLC grew its position in Lennar by 484.0% during the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after acquiring an additional 121 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Lennar in the first quarter valued at $30,000. New Covenant Trust Company N.A. bought a new position in shares of Lennar in the first quarter valued at about $32,000. Redmont Wealth Advisors LLC acquired a new position in Lennar during the 1st quarter worth about $35,000. Finally, Fortitude Family Office LLC grew its holdings in Lennar by 223.6% during the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after acquiring an additional 161 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Trading Down 0.7 %

NYSE:LEN traded down $1.37 on Monday, reaching $183.65. The company’s stock had a trading volume of 1,169,747 shares, compared to its average volume of 2,112,408. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $186.60. The business’s 50-day moving average price is $162.86 and its two-hundred day moving average price is $160.11. The firm has a market cap of $50.43 billion, a PE ratio of 12.58, a PEG ratio of 1.60 and a beta of 1.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93.

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

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Friday, July 5th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Lennar from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. decreased 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 upgraded Lennar from an “underperform” rating to a “neutral” rating and set a $144.00 target price for the company in a research report on Tuesday, July 9th. Royal Bank of Canada reiterated an “underperform” rating and issued a $145.00 price target on shares of Lennar in a report on Thursday, June 20th. Finally, BTIG Research dropped their price objective on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $169.13.

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.