Cadent Capital Advisors LLC Invests $1.69 Million in Lennar Corporation $LEN

Cadent Capital Advisors LLC acquired a new position in Lennar Corporation (NYSE:LEN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,401 shares of the construction company’s stock, valued at approximately $1,689,000.

Other hedge funds also recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in Lennar during the second quarter valued at approximately $33,000. Rexford Capital Inc. purchased a new stake in shares of Lennar in the 2nd quarter valued at $36,000. Mid American Wealth Advisory Group Inc. purchased a new position in Lennar in the 2nd quarter worth $43,000. Cary Street Partners Financial LLC bought a new stake in Lennar in the second quarter worth $47,000. Finally, SBI Securities Co. Ltd. boosted its position in Lennar by 190.9% during the second quarter. SBI Securities Co. Ltd. now owns 573 shares of the construction company’s stock valued at $63,000 after buying an additional 376 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

NYSE:LEN opened at $105.00 on Thursday. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. The firm’s fifty day simple moving average is $121.80 and its 200 day simple moving average is $121.55. The stock has a market cap of $26.78 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 1.07 and a beta of 1.38. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $144.24.

Lennar (NYSE:LEN) last posted its earnings results on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.03 earnings per share. As a group, research analysts predict that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Friday, October 10th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.9%. Lennar’s dividend payout ratio is 25.03%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America reissued an “underperform” rating and issued a $95.00 target price (down previously from $125.00) on shares of Lennar in a research note on Thursday, December 18th. UBS Group decreased their price target on Lennar from $161.00 to $137.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Royal Bank Of Canada cut shares of Lennar from a “sector perform” rating to an “underperform” rating and cut their target price for the stock from $106.00 to $95.00 in a report on Wednesday, December 17th. The Goldman Sachs Group reiterated a “neutral” rating and set a $120.00 price target on shares of Lennar in a report on Thursday, December 18th. Finally, Citigroup restated an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat.com, Lennar has a consensus rating of “Reduce” and an average target price of $109.62.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.