Janney Montgomery Scott LLC Has $17.66 Million Holdings in Lennar Corporation $LEN

Janney Montgomery Scott LLC grew its holdings in Lennar Corporation (NYSE:LEN) by 72.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 159,619 shares of the construction company’s stock after purchasing an additional 66,844 shares during the period. Janney Montgomery Scott LLC owned about 0.06% of Lennar worth $17,656,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LEN. Secured Retirement Advisors LLC acquired a new position in Lennar during the first quarter worth $926,000. Marks Group Wealth Management Inc increased its holdings in Lennar by 15.4% during the first quarter. Marks Group Wealth Management Inc now owns 2,183 shares of the construction company’s stock worth $251,000 after buying an additional 292 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Lennar by 2.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 208,763 shares of the construction company’s stock worth $23,962,000 after buying an additional 4,332 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its holdings in Lennar by 24.8% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 42,041 shares of the construction company’s stock worth $4,825,000 after buying an additional 8,357 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc increased its holdings in Lennar by 77.7% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company’s stock worth $419,000 after buying an additional 1,596 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LEN shares. JMP Securities boosted 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. Bank of America boosted their target price on shares of Lennar from $115.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, September 18th. UBS Group lifted their price objective on shares of Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Citigroup reaffirmed an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. Finally, Barclays reduced their price objective on shares of Lennar from $110.00 to $95.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $123.75.

Lennar Trading Up 0.0%

Shares of Lennar stock opened at $128.25 on Friday. The firm has a 50-day moving average of $128.42 and a 200-day moving average of $116.30. The stock has a market cap of $33.22 billion, a PE ratio of 12.67, a PEG ratio of 5.74 and a beta of 1.37. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $189.65. 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 announced its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. The company had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. Lennar’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.90 earnings per share. As a group, sell-side analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

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

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.