1832 Asset Management L.P. Cuts Stock Position in Lennar Corporation $LEN

1832 Asset Management L.P. decreased its holdings in shares of Lennar Corporation (NYSE:LEN) by 51.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,770 shares of the construction company’s stock after selling 16,532 shares during the period. 1832 Asset Management L.P.’s holdings in Lennar were worth $1,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CW Advisors LLC grew its position in shares of Lennar by 64.8% in the second quarter. CW Advisors LLC now owns 28,016 shares of the construction company’s stock valued at $3,099,000 after purchasing an additional 11,012 shares during the period. Van Hulzen Asset Management LLC lifted its stake in Lennar by 26.3% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 3,819 shares of the construction company’s stock valued at $422,000 after buying an additional 796 shares in the last quarter. River Road Asset Management LLC boosted its holdings in Lennar by 86.1% in the 2nd quarter. River Road Asset Management LLC now owns 443,477 shares of the construction company’s stock worth $49,749,000 after buying an additional 205,234 shares during the last quarter. Legacy Capital Wealth Partners LLC increased its stake in Lennar by 7.5% during the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 2,663 shares of the construction company’s stock worth $295,000 after buying an additional 185 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Lennar by 24.1% during the second quarter. Mackenzie Financial Corp now owns 113,948 shares of the construction company’s stock valued at $12,604,000 after acquiring an additional 22,144 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 2.2%

LEN stock opened at $124.01 on Friday. Lennar Corporation has a one year low of $98.42 and a one year high of $169.00. The firm has a market cap of $31.63 billion, a PE ratio of 12.25, a PEG ratio of 5.25 and a beta of 1.38. The firm’s 50 day moving average price is $124.39 and its 200-day moving average price is $120.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 18th. The construction company reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.14). Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business had revenue of $8.81 billion for the quarter, compared to analyst estimates of $9.01 billion. During the same period last year, the business earned $3.90 EPS. Lennar’s revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on LEN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lennar in a research note on Wednesday, October 8th. Citigroup reaffirmed an “outperform” rating on shares of Lennar in a research note on Monday, September 22nd. Wells Fargo & Company dropped their target price on shares of Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. Evercore ISI decreased their price target on shares of Lennar from $118.00 to $114.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 7th. Finally, Raymond James Financial lowered shares of Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $121.54.

Lennar Company 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.