Warther Private Wealth LLC Sells 109,854 Shares of Lennar Corporation $LEN

Warther Private Wealth LLC trimmed its stake in Lennar Corporation (NYSE:LEN) by 94.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 6,605 shares of the construction company’s stock after selling 109,854 shares during the quarter. Warther Private Wealth LLC’s holdings in Lennar were worth $731,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its position in shares of Lennar by 45.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock worth $1,020,866,000 after acquiring an additional 2,777,567 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Lennar during the 2nd quarter worth $424,950,000. Brave Warrior Advisors LLC grew its stake in Lennar by 23.4% during the 1st quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock worth $251,323,000 after buying an additional 415,218 shares during the last quarter. Eminence Capital LP grew its stake in Lennar by 130.8% during the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock worth $181,523,000 after buying an additional 896,264 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Lennar by 20.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 736,490 shares of the construction company’s stock worth $84,534,000 after buying an additional 123,266 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Lennar Stock Down 0.9%

NYSE LEN opened at $127.03 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. The business has a fifty day moving average price of $129.70 and a 200 day moving average price of $117.02. The company has a market cap of $32.40 billion, a P/E ratio of 12.55, a P/E/G ratio of 5.97 and a beta of 1.37. Lennar Corporation has a one year low of $98.42 and a one year high of $180.12.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. The business had revenue of $8.81 billion during 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 business’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.90 earnings per share. Research analysts anticipate that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on LEN shares. JMP Securities upped their target price on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Monday, September 22nd. Evercore ISI reduced their price target on Lennar from $118.00 to $114.00 and set an “in-line” rating for the company in a report on Tuesday, October 7th. The Goldman Sachs Group upped their price target on Lennar from $122.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Zacks Research cut Lennar from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. Finally, UBS Group upped their price target on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.