AlphaQuest LLC Boosts Stock Position in Lennar Corporation $LEN

AlphaQuest LLC lifted its position in Lennar Corporation (NYSE:LEN) by 168.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,210 shares of the construction company’s stock after purchasing an additional 4,526 shares during the quarter. AlphaQuest LLC’s holdings in Lennar were worth $797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LEN. FNY Investment Advisers LLC purchased a new position in shares of Lennar in the 2nd quarter worth about $33,000. Disciplina Capital Management LLC lifted its position in Lennar by 179.8% in the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock valued at $38,000 after purchasing an additional 214 shares during the last quarter. Mid American Wealth Advisory Group Inc. bought a new stake in Lennar in the second quarter valued at approximately $43,000. Wayfinding Financial LLC bought a new stake in Lennar in the first quarter valued at approximately $44,000. Finally, Valley National Advisers Inc. lifted its position in Lennar by 34.7% in the first quarter. Valley National Advisers Inc. now owns 466 shares of the construction company’s stock valued at $53,000 after purchasing an additional 120 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on LEN shares. Wedbush reiterated a “neutral” rating and issued a $130.00 price objective on shares of Lennar in a research report on Monday, September 22nd. Citigroup reissued an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. UBS Group increased their target price on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Evercore ISI decreased their target price on Lennar from $118.00 to $114.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. Finally, Zacks Research lowered Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $121.75.

Lennar Price Performance

NYSE LEN opened at $127.69 on Monday. The company has a market capitalization of $32.56 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 5.94 and a beta of 1.37. 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’s fifty day moving average is $129.55 and its 200 day moving average is $117.49. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $180.12.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15. The company had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.Lennar’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.90 earnings per share. Sell-side analysts predict that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently disclosed 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. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, October 10th. Lennar’s payout ratio is presently 19.76%.

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.