Mount Lucas Management LP Sells 3,227 Shares of Lennar Co. (NYSE:LEN)

Mount Lucas Management LP lowered its position in shares of Lennar Co. (NYSE:LEN) by 18.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,317 shares of the construction company’s stock after selling 3,227 shares during the period. Mount Lucas Management LP’s holdings in Lennar were worth $2,146,000 at the end of the most recent reporting period.

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

Lennar Stock Up 0.9 %

Shares of LEN stock traded up $1.59 during midday trading on Friday, reaching $179.42. 2,252,331 shares of the stock were exchanged, compared to its average volume of 2,078,108. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $186.60. The company’s 50 day moving average is $168.92 and its two-hundred day moving average is $162.00. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The firm has a market cap of $49.27 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.65 and a beta of 1.61.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.18. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. On average, equities research analysts predict that Lennar Co. will post 14.16 EPS for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.11%. Lennar’s payout ratio is currently 13.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued an “underperform” rating and issued a $145.00 target price on shares of Lennar in a research note on Thursday, June 20th. Wells Fargo & Company boosted their target price on Lennar from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Citigroup reissued a “neutral” rating and issued a $164.00 target price (down previously from $174.00) on shares of Lennar in a research note on Tuesday, July 2nd. JMP Securities restated a “market outperform” rating and set a $170.00 price target on shares of Lennar in a report on Thursday, June 20th. Finally, StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $172.06.

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.