Chevy Chase Trust Holdings LLC Grows Holdings in Lennar Corporation $LEN

Chevy Chase Trust Holdings LLC grew its stake in Lennar Corporation (NYSE:LEN) by 0.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,643 shares of the construction company’s stock after purchasing an additional 171 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Lennar were worth $13,566,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Clearview Wealth Advisors LLC acquired a new stake in shares of Lennar in the second quarter valued at about $346,000. Turtle Creek Wealth Advisors LLC grew its position in shares of Lennar by 8.6% in the second quarter. Turtle Creek Wealth Advisors LLC now owns 45,668 shares of the construction company’s stock valued at $5,051,000 after purchasing an additional 3,627 shares during the period. Allianz Asset Management GmbH grew its position in shares of Lennar by 2.2% in the second quarter. Allianz Asset Management GmbH now owns 89,420 shares of the construction company’s stock valued at $9,891,000 after purchasing an additional 1,949 shares during the period. Mutual Advisors LLC acquired a new stake in shares of Lennar in the second quarter valued at about $267,000. Finally, Generali Asset Management SPA SGR boosted its position in Lennar by 1.5% during the second quarter. Generali Asset Management SPA SGR now owns 15,259 shares of the construction company’s stock worth $1,688,000 after acquiring an additional 222 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Performance

NYSE:LEN opened at $125.78 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The firm has a market capitalization of $32.08 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 5.85 and a beta of 1.37. The company’s 50-day moving average is $129.60 and its two-hundred day moving average is $116.77. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $189.65.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $9.01 billion. During the same period in the prior year, the business posted $3.90 EPS. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. Analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, October 10th. Lennar’s dividend payout ratio is currently 19.76%.

Analyst Upgrades and Downgrades

LEN has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Lennar in a research report on Wednesday, October 8th. Evercore ISI lowered their price target on shares of Lennar from $118.00 to $114.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 7th. Bank of America lowered their price target on shares of Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Citigroup restated an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. Finally, Wells Fargo & Company decreased their target price on shares of Lennar from $135.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Lennar presently has a consensus rating of “Hold” and an average target price of $121.75.

Lennar 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.