Beirne Wealth Consulting Services LLC Acquires New Shares in Lennar Corporation $LEN

Beirne Wealth Consulting Services LLC bought a new position in shares of Lennar Corporation (NYSE:LEN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,958 shares of the construction company’s stock, valued at approximately $1,003,000.

A number of other hedge funds also recently made changes to their positions in the stock. Concurrent Investment Advisors LLC grew its holdings in shares of Lennar by 73.9% during the third quarter. Concurrent Investment Advisors LLC now owns 10,702 shares of the construction company’s stock valued at $1,349,000 after buying an additional 4,548 shares during the last quarter. denkapparat Operations GmbH acquired a new position in Lennar during the 2nd quarter valued at about $408,000. Longfellow Investment Management Co. LLC purchased a new stake in shares of Lennar in the second quarter worth approximately $441,000. Swiss National Bank lifted its holdings in shares of Lennar by 4.3% in the second quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock valued at $77,745,000 after purchasing an additional 29,300 shares in the last quarter. Finally, Cibc World Market Inc. boosted its position in shares of Lennar by 993.0% during the third quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock valued at $16,321,000 after buying an additional 117,640 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Performance

Shares of LEN stock opened at $122.33 on Tuesday. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $144.24. The stock has a market capitalization of $30.21 billion, a P/E ratio of 15.31, a PEG ratio of 1.78 and a beta of 1.44. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $113.05 and its 200 day moving average is $122.05.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). Lennar had a return on equity of 9.27% and a net margin of 6.08%.The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. During the same period in the previous year, the company posted $4.03 earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, February 4th. Lennar’s payout ratio is currently 25.03%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LEN shares. Bank of America reiterated an “underperform” rating and issued a $95.00 target price (down previously from $125.00) on shares of Lennar in a research note on Thursday, December 18th. BTIG Research set a $90.00 target price on Lennar in a research note on Thursday, December 18th. JPMorgan Chase & Co. dropped their price target on Lennar from $115.00 to $80.00 and set an “underweight” rating on the stock in a report on Thursday, December 18th. Royal Bank Of Canada set a $88.00 target price on Lennar in a research report on Friday, January 9th. Finally, Argus upgraded shares of Lennar to a “strong-buy” rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $106.38.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.