Arnhold LLC Makes New Investment in Lennar Corporation $LEN

Key Points

• Arnhold LLC has acquired a new stake in Lennar Corporation, purchasing 25,113 shares valued at approximately $2.88 million, highlighting investor interest in the construction company.
• Several hedge funds increased their positions in Lennar, with institutional investors now owning 81.10% of the company's stock, indicating strong institutional confidence.
• Analysts have recently cut their price targets for Lennar, with a consensus rating of "Hold" and an average target price of $128.85, amid mixed earnings reports and market sentiment.

Arnhold LLC purchased a new position in shares of Lennar Corporation (NYSE:LEN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,113 shares of the construction company's stock, valued at approximately $2,882,000.

Other institutional investors have also modified their holdings of the company. Secured Retirement Advisors LLC bought a new position in shares of Lennar during the first quarter worth about $926,000. Marks Group Wealth Management Inc grew its position in shares of Lennar by 15.4% during the first quarter. Marks Group Wealth Management Inc now owns 2,183 shares of the construction company's stock worth $251,000 after acquiring an additional 292 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Lennar by 2.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 208,763 shares of the construction company's stock worth $23,962,000 after acquiring an additional 4,332 shares during the last quarter. Turtle Creek Wealth Advisors LLC grew its position in shares of Lennar by 24.8% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 42,041 shares of the construction company's stock worth $4,825,000 after acquiring an additional 8,357 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc grew its position in shares of Lennar by 77.7% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company's stock worth $419,000 after acquiring an additional 1,596 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Zelman & Associates lowered shares of Lennar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 18th. Evercore ISI reduced their price objective on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a report on Wednesday, June 18th. Bank of America lowered their target price on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 18th. Barclays lowered their target price on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Finally, UBS Group lowered their target price on shares of Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fourteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $128.85.

Lennar Price Performance

Lennar stock traded up $6.6960 during midday trading on Friday, hitting $135.8360. The company's stock had a trading volume of 3,924,756 shares, compared to its average volume of 3,064,843. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. The stock's 50-day moving average price is $116.07 and its 200-day moving average price is $114.08. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $193.80. The company has a market capitalization of $35.18 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 5.76 and a beta of 1.29.

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

Lennar Announces Dividend

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

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.