Arrow Capital Pty Ltd Makes New Investment in Lennar Corporation $LEN

Arrow Capital Pty Ltd purchased a new position in shares of Lennar Corporation (NYSE:LEN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,484 shares of the construction company’s stock, valued at approximately $4,035,000. Lennar accounts for 3.0% of Arrow Capital Pty Ltd’s investment portfolio, making the stock its 18th largest holding.

A number of other institutional investors also recently bought and sold shares of LEN. FNY Investment Advisers LLC purchased a new stake in Lennar during the 2nd quarter valued at approximately $33,000. Disciplina Capital Management LLC increased its holdings in shares of 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 period. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Lennar during the second quarter worth $43,000. Cary Street Partners Financial LLC purchased a new position in Lennar in the 2nd quarter valued at $47,000. Finally, SBI Securities Co. Ltd. increased its stake in Lennar by 190.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 573 shares of the construction company’s stock valued at $63,000 after buying an additional 376 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LEN shares. Citigroup reaffirmed an “outperform” rating on shares of Lennar in a report on Monday, September 22nd. Royal Bank Of Canada lifted their price objective on Lennar from $98.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, September 22nd. Raymond James Financial downgraded Lennar from a “market perform” rating to an “underperform” rating in a research note on Monday, September 22nd. Wedbush restated a “neutral” rating and issued a $130.00 price target on shares of Lennar in a research note on Monday, September 22nd. Finally, JMP Securities increased their price objective on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $121.77.

Lennar Stock Performance

NYSE:LEN opened at $117.22 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The firm has a market cap of $29.89 billion, a PE ratio of 11.58, a P/E/G ratio of 5.12 and a beta of 1.38. The firm has a 50 day simple moving average of $124.07 and a 200-day simple moving average of $121.20. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $163.51.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 18th. The construction company reported $2.00 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 firm had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. During the same period in the previous year, the firm posted $3.90 earnings per share. The firm’s revenue was down 6.4% on a year-over-year basis. On average, equities analysts expect that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Friday, October 10th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, October 10th. Lennar’s payout ratio is 19.76%.

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.