Lennar Corporation $LEN Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC grew its position in Lennar Corporation (NYSE:LEN) by 24.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,898 shares of the construction company’s stock after purchasing an additional 1,339 shares during the period. HB Wealth Management LLC’s holdings in Lennar were worth $763,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of LEN. Kingstone Capital Partners Texas LLC purchased a new position in shares of Lennar in the second quarter valued at approximately $424,950,000. The Manufacturers Life Insurance Company grew its stake in shares of Lennar by 45.4% in the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock valued at $1,020,866,000 after buying an additional 2,777,567 shares in the last quarter. Eminence Capital LP boosted its holdings in Lennar by 130.8% in the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock valued at $181,523,000 after purchasing an additional 896,264 shares during the period. Brave Warrior Advisors LLC lifted its holdings 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. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in Lennar during the 1st quarter worth about $41,788,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

LEN opened at $130.13 on Friday. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $189.65. The stock has a fifty day moving average price of $128.71 and a 200 day moving average price of $116.35. The stock has a market cap of $33.70 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 5.82 and a beta of 1.37. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15.

Lennar (NYSE:LEN) last announced its quarterly 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 company had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.90 earnings per share. Analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders 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 1.5%. Lennar’s dividend payout ratio (DPR) is currently 19.76%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Raymond James Financial downgraded Lennar from a “market perform” rating to an “underperform” rating in a research note on Monday, September 22nd. Wells Fargo & Company increased their target price on Lennar from $110.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 2nd. Citigroup reissued an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. Wedbush reiterated a “neutral” rating and issued a $130.00 target price on shares of Lennar in a research report on Monday, September 22nd. Finally, The Goldman Sachs Group increased their price objective on Lennar from $122.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $123.75.

About Lennar

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.