Ellsworth Advisors LLC Has $3.04 Million Position in Lennar Co. (NYSE:LEN)

Ellsworth Advisors LLC lifted its position in shares of Lennar Co. (NYSE:LEN) by 0.5% during the 3rd quarter, Holdings Channel reports. The firm owned 16,207 shares of the construction company’s stock after purchasing an additional 82 shares during the quarter. Ellsworth Advisors LLC’s holdings in Lennar were worth $3,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Lakewood Asset Management LLC raised its stake in Lennar by 0.8% in the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock valued at $1,407,000 after buying an additional 70 shares during the period. NorthCrest Asset Manangement LLC raised its stake in Lennar by 1.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock valued at $730,000 after acquiring an additional 73 shares during the period. Aaron Wealth Advisors LLC lifted its holdings in Lennar by 5.7% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock valued at $207,000 after purchasing an additional 74 shares during the last quarter. Quotient Wealth Partners LLC increased its holdings in shares of Lennar by 5.0% in the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock valued at $231,000 after purchasing an additional 74 shares during the last quarter. Finally, BBR Partners LLC raised its position in shares of Lennar by 3.4% in the second quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock valued at $364,000 after purchasing an additional 79 shares during the period. 81.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on LEN shares. BTIG Research decreased their price target on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Wells Fargo & Company downgraded Lennar from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $205.00 to $190.00 in a research report on Monday, October 7th. JMP Securities lifted their price target on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Royal Bank of Canada upped their price objective on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods lifted their target price on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $181.11.

Lennar Stock Performance

Shares of NYSE:LEN opened at $185.50 on Friday. The company’s 50 day simple moving average is $181.17 and its 200 day simple moving average is $166.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $193.80. The stock has a market capitalization of $50.94 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The company had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.91 EPS. As a group, research analysts predict that Lennar Co. will post 14.28 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.08%. Lennar’s dividend payout ratio (DPR) is currently 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.