Clearview Wealth Advisors LLC Makes New Investment in Lennar Corporation $LEN

Key Points

• Clearview Wealth Advisors LLC has established a new position in Lennar Corporation, acquiring 3,127 shares valued at approximately $346,000 in the 2nd quarter.
• In addition to Clearview, several institutional investors have increased their stakes in Lennar, with 81.10% of the stock now owned by hedge funds and other institutional investors.
• Lennar recently reported $2.29 EPS for the quarter, surpassing analysts' expectations, though its quarterly revenue fell 6.4% compared to the previous year.

Clearview Wealth Advisors LLC bought a new position in shares of Lennar Corporation (NYSE:LEN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,127 shares of the construction company's stock, valued at approximately $346,000.

Several other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position in shares of Lennar by 45.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company's stock worth $1,020,866,000 after acquiring an additional 2,777,567 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Lennar during the 2nd quarter worth approximately $424,950,000. Brave Warrior Advisors LLC raised its stake in shares of Lennar by 23.4% during the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company's stock worth $251,323,000 after purchasing an additional 415,218 shares during the last quarter. Eminence Capital LP lifted its stake in shares of Lennar by 130.8% in the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company's stock worth $181,523,000 after acquiring an additional 896,264 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Lennar by 20.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 736,490 shares of the construction company's stock worth $84,534,000 after acquiring an additional 123,266 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LEN has been the topic of several recent analyst reports. UBS Group boosted their target price on Lennar from $146.00 to $161.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Zelman & Associates downgraded shares of Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Bank of America decreased their price target on Lennar from $133.00 to $125.00 and set a "neutral" rating on the stock in a research note on Friday, October 10th. Wells Fargo & Company lowered their target price on Lennar from $135.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, October 10th. Finally, Evercore ISI lowered their price objective on shares of Lennar from $118.00 to $114.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lennar has a consensus rating of "Hold" and a consensus target price of $121.75.

Lennar Trading Up 0.2%

Shares of LEN stock opened at $122.52 on Thursday. The company has a market capitalization of $31.24 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 5.69 and a beta of 1.37. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $129.44 and a 200 day moving average price of $116.57. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $189.65.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.15. The business had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The company's quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.90 earnings per share. Research analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, October 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. Lennar's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding LEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lennar Corporation (NYSE:LEN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.