Ally Financial Inc. Buys Shares of 23,000 Lennar Corporation $LEN

Key Points

• Ally Financial acquired 23,000 Lennar shares during the second quarter, valued at approximately $2.08 million. Institutional investors collectively own 81.1% of Lennar’s stock.
• Wall Street sentiment is largely negative: one analyst rates Lennar a Buy, seven rate it Hold, and ten rate it Sell. The consensus rating is “Reduce,” with an average price target of $92.13.
• Lennar beat quarterly EPS estimates with $1.31 per share, but revenue fell 5.2% year over year to $7.94 billion. The company pays a quarterly dividend of $0.50, equal to a 2.3% annualized yield.

Ally Financial Inc. acquired a new stake in shares of Lennar Corporation (NYSE:LEN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,000 shares of the construction company's stock, valued at approximately $2,081,000.

Several other institutional investors have also recently bought and sold shares of the company. DV Equities LLC bought a new position in Lennar during the fourth quarter worth $31,000. High Point Wealth Management LLC acquired a new stake in shares of Lennar in the 4th quarter valued at $31,000. Phillip James Consulting Co. acquired a new stake in shares of Lennar during the first quarter worth approximately $30,000. Quarry LP acquired a new stake in Lennar during the 4th quarter valued at $41,000. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Lennar in the second quarter valued at $47,000. Institutional investors own 81.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on Lennar from $90.00 to $85.00 and set an "equal weight" rating for the company in a research report on Monday, June 15th. JPMorgan Chase & Co. decreased their price target on shares of Lennar from $80.00 to $77.00 and set an "underweight" rating for the company in a report on Tuesday, June 16th. UBS Group lowered their target price on Lennar from $107.00 to $94.00 and set a "neutral" rating for the company in a research note on Tuesday, June 16th. Zacks Research downgraded Lennar from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 16th. Finally, Bank of America cut their price objective on shares of Lennar from $84.00 to $77.00 and set an "underperform" rating on the stock in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $92.13.

Lennar Stock Performance

Shares of NYSE LEN opened at $87.05 on Monday. Lennar Corporation has a one year low of $79.82 and a one year high of $144.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91. The stock's fifty day moving average price is $86.57 and its two-hundred day moving average price is $93.10. The firm has a market cap of $20.97 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 2.89 and a beta of 1.39.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.07. The firm had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The business's revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 EPS. On average, equities analysts forecast that Lennar Corporation will post 5.52 EPS for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.00 annualized dividend and a yield of 2.3%. Lennar's dividend payout ratio (DPR) is 31.30%.

Lennar 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.

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