Mutual Advisors LLC Invests $267,000 in Lennar Corporation $LEN

Mutual Advisors LLC purchased a new position in shares of Lennar Corporation (NYSE:LEN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,311 shares of the construction company’s stock, valued at approximately $267,000.

A number of other hedge funds also recently modified their holdings of LEN. Disciplina Capital Management LLC raised its position in Lennar by 179.8% in the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock valued at $38,000 after buying an additional 214 shares during the last quarter. Oakworth Capital Inc. raised its position in Lennar by 139.9% in the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock valued at $39,000 after buying an additional 200 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Lennar in the 1st quarter valued at approximately $44,000. Valley National Advisers Inc. raised its position in Lennar by 34.7% in the 1st quarter. Valley National Advisers Inc. now owns 466 shares of the construction company’s stock valued at $53,000 after buying an additional 120 shares during the last quarter. Finally, Horizon Financial Services LLC acquired a new stake in Lennar in the 1st quarter valued at approximately $66,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Up 1.9%

LEN stock opened at $128.20 on Wednesday. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $32.69 billion, a PE ratio of 12.67, a PEG ratio of 5.86 and a beta of 1.37. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $180.12. The business’s 50 day simple moving average is $129.78 and its 200 day simple moving average is $116.95.

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

Lennar Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group lifted their target price on Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. JMP Securities lifted their target price on Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a research report on Monday, September 22nd. The Goldman Sachs Group raised their price target on Lennar from $122.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. decreased their price target on Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a research note on Monday, September 22nd. Finally, Evercore ISI decreased their price target on Lennar from $118.00 to $114.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $121.75.

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.