Vise Technologies Inc. Makes New Investment in Lennar Corporation $LEN

Vise Technologies Inc. purchased a new position in shares of Lennar Corporation (NYSE:LEN) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 11,576 shares of the construction company’s stock, valued at approximately $1,280,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Lennar by 27.9% in the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock valued at $236,000 after acquiring an additional 377 shares during the period. Legacy Capital Wealth Partners LLC grew its position in Lennar by 6.6% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 2,478 shares of the construction company’s stock worth $284,000 after purchasing an additional 153 shares in the last quarter. Dynasty Wealth Management LLC lifted its position in Lennar by 214.3% in the 1st quarter. Dynasty Wealth Management LLC now owns 6,384 shares of the construction company’s stock worth $733,000 after buying an additional 4,353 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in Lennar in the first quarter valued at approximately $37,055,000. Finally, Cassaday & Co Wealth Management LLC lifted its holdings in Lennar by 100.0% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 3,000 shares of the construction company’s stock worth $344,000 after purchasing an additional 1,500 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Performance

Shares of LEN stock opened at $123.50 on Thursday. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $180.12. 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 fifty day simple moving average of $127.11 and a two-hundred day simple moving average of $119.09. The firm has a market capitalization of $31.50 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 5.78 and a beta of 1.33.

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

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, October 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. Lennar’s dividend payout ratio is presently 19.76%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LEN. JMP Securities boosted their price target on shares of Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a report on Monday, September 22nd. Raymond James Financial lowered Lennar from a “market perform” rating to an “underperform” rating in a report on Monday, September 22nd. JPMorgan Chase & Co. dropped their price target on shares of Lennar from $97.00 to $92.00 and set a “neutral” rating on the stock in a research report on Monday, September 22nd. Royal Bank Of Canada upped their target price on Lennar from $98.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, September 22nd. Finally, Citigroup reissued an “outperform” rating on shares of Lennar in a report on Monday, September 22nd. One equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.