Curated Wealth Partners LLC reduced its stake in Lennar Corporation (NYSE:LEN – Free Report) by 89.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,401 shares of the construction company’s stock after selling 54,888 shares during the quarter. Curated Wealth Partners LLC’s holdings in Lennar were worth $522,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Polaris Financial Partners acquired a new position in Lennar in the 3rd quarter valued at $27,000. Phillip James Consulting Co. bought a new stake in shares of Lennar in the first quarter valued at about $30,000. Global Assets Advisory LLC bought a new stake in shares of Lennar in the first quarter valued at about $39,000. GK Wealth Management LLC acquired a new position in shares of Lennar in the third quarter valued at about $42,000. Finally, Anchor Investment Management LLC grew its stake in shares of Lennar by 1,276.4% in the second quarter. Anchor Investment Management LLC now owns 757 shares of the construction company’s stock valued at $69,000 after acquiring an additional 702 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Lennar
In other news, major shareholder Berkshire Hathaway Inc bought 1,708,095 shares of the stock in a transaction on Friday, October 2nd. The stock was acquired at an average price of $79.44 per share, with a total value of $135,691,066.80. Following the acquisition, the insider directly owned 28,438,045 shares in the company, valued at approximately $2,259,118,294.80. This trade represents a 6.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders bought 7,502,276 shares of company stock valued at $595,303,287. 10.05% of the stock is owned by corporate insiders.
More Lennar News
Here are the key news stories impacting Lennar this week:
- Positive Sentiment: Berkshire Hathaway support remains a potential catalyst. Recent disclosures indicated that Berkshire Hathaway increased its Lennar position to more than 28.4 million Class A shares, or approximately 12.5% of the outstanding stock. Investors may view the purchases as a signal that LEN is undervalued despite near-term homebuilding challenges. Why Lennar Stock Is Up Today
- Positive Sentiment: Lennar is expanding its attainable-housing pipeline. The company broke ground on The Foundry, a downtown Las Vegas project expected to include more than 1,000 homes, and opened Foxwood in Decatur, where homes start in the low-$200,000s. These projects could support future deliveries and broaden Lennar’s exposure to more affordable buyers. Lennar Breaks Ground on The Foundry Lennar Opens Foxwood
- Neutral Sentiment: Lennar completed a $300 million senior-notes offering. The financing increases liquidity for land, construction and corporate purposes, although it also adds interest obligations and leverage. Lennar Raises Capital via New Senior Notes Offering
- Negative Sentiment: Fundamental results remain a key overhang. Lennar’s latest quarterly EPS and revenue missed consensus estimates, while revenue fell 8.7% year over year and EPS declined from the prior-year period. Analysts are now focused on whether deliveries, margins and demand can improve in the next report. Why Is Lennar Down Since Its Earnings Report
- Negative Sentiment: Shares reached a new one-year low amid continued weakness. The move reflects investor concerns about mortgage rates, affordability, housing demand and pressured homebuilding margins. Lennar Reaches New One-Year Low
- Negative Sentiment: Multiple law firms announced securities-fraud investigations. The inquiries allege possible federal securities-law violations; no wrongdoing has been established, but the headlines add reputational and potential litigation risk. Securities Fraud Investigation Into Lennar
Analysts Set New Price Targets
LEN has been the subject of several recent research reports. Truist Financial cut their price target on Lennar from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Wednesday, September 16th. Melius Research assumed coverage on Lennar in a research note on Tuesday, October 6th. They set a “sell” rating and a $72.00 price objective on the stock. Bank of America dropped their price objective on Lennar from $77.00 to $70.00 and set an “underperform” rating for the company in a report on Monday, September 14th. Wells Fargo & Company decreased their target price on shares of Lennar from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 7th. Finally, Royal Bank Of Canada cut their price target on shares of Lennar from $85.00 to $69.00 and set an “underperform” rating for the company in a report on Friday, September 18th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and ten have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $79.00.
Check Out Our Latest Report on Lennar
Lennar Price Performance
Shares of NYSE:LEN opened at $77.06 on Friday. Lennar Corporation has a one year low of $71.78 and a one year high of $133.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.94 and a quick ratio of 0.69. The company has a market cap of $18.33 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 2.92 and a beta of 1.36. The firm has a 50 day simple moving average of $81.79 and a 200 day simple moving average of $85.87.
Lennar (NYSE:LEN – Get Free Report) last announced its quarterly earnings results on Wednesday, September 16th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.06). Lennar had a return on equity of 6.15% and a net margin of 4.09%. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $8.32 billion. During the same quarter last year, the company posted $2.00 earnings per share. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. Research analysts predict that Lennar Corporation will post 4.87 earnings per share for the current fiscal year.
Lennar Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Wednesday, October 7th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. Lennar’s payout ratio is currently 37.81%.
Lennar Profile
Lennar Corporation (NYSE: LEN) is a homebuilding company that designs, constructs and sells single-family homes and, through its multifamily operations, develops apartment communities. Its residential offerings generally include homes across a range of sizes and prices, serving first-time, move-up and active-adult buyers.
The company also provides related services through businesses involved in mortgage financing, title and closing services, insurance and other real estate activities. Lennar develops residential communities and manages land acquisition, planning and construction as part of its integrated homebuilding model.
Founded in 1954, Lennar has expanded from its origins in South Florida into a national homebuilder serving numerous markets across the United States.
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