Lennar Corporation (NYSE:LEN) Holdings Raised by AIA Group Ltd

Key Points

• AIA Group Ltd increased its stake in Lennar Corporation by 110.1%, owning 13,128 shares valued at approximately $1.51 million as of the end of the first quarter.
• Lennar reported $1.90 earnings per share for the last quarter, missing the consensus estimate of $1.94, while its revenue reached $8.38 billion, exceeding expectations.
• The company recently declared a quarterly dividend of $0.50, which equates to an annualized dividend of $2.00 and a yield of 1.7%.

AIA Group Ltd lifted its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 110.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,128 shares of the construction company's stock after acquiring an additional 6,879 shares during the period. AIA Group Ltd's holdings in Lennar were worth $1,507,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. NorthRock Partners LLC raised its holdings in shares of Lennar by 1.4% in the 1st quarter. NorthRock Partners LLC now owns 6,509 shares of the construction company's stock worth $747,000 after purchasing an additional 93 shares during the period. Valeo Financial Advisors LLC raised its holdings in shares of Lennar by 1.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 8,841 shares of the construction company's stock worth $1,015,000 after purchasing an additional 95 shares during the period. Mather Group LLC. raised its holdings in shares of Lennar by 8.4% in the 1st quarter. Mather Group LLC. now owns 1,517 shares of the construction company's stock worth $174,000 after purchasing an additional 117 shares during the period. Omnia Family Wealth LLC raised its holdings in shares of Lennar by 1.9% in the 1st quarter. Omnia Family Wealth LLC now owns 6,417 shares of the construction company's stock worth $737,000 after purchasing an additional 119 shares during the period. Finally, Legacy Advisors LLC raised its holdings in shares of Lennar by 4.8% in the 1st quarter. Legacy Advisors LLC now owns 2,628 shares of the construction company's stock worth $302,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Up 5.2%

LEN stock traded up $6.47 during midday trading on Wednesday, hitting $130.94. 5,588,934 shares of the company's stock were exchanged, compared to its average volume of 2,673,125. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $193.80. The firm has a 50 day moving average price of $113.09 and a 200-day moving average price of $114.29. The stock has a market capitalization of $33.91 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 5.28 and a beta of 1.29.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%. The business had revenue of $8.38 billion for the quarter, compared to analysts' expectations of $8.21 billion. During the same quarter in the prior year, the firm earned $3.45 earnings per share. Lennar's revenue for the quarter was down 4.4% compared to the same quarter last year. On average, analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, July 3rd. Lennar's payout ratio is 16.54%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JMP Securities cut their price objective on Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a report on Friday, June 20th. Wall Street Zen downgraded Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. UBS Group dropped their target price on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Royal Bank Of Canada dropped their target price on Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a report on Wednesday, June 18th. Finally, Bank of America dropped their target price on Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lennar has an average rating of "Hold" and an average target price of $128.85.

Lennar 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.