Concurrent Investment Advisors LLC Increases Stake in Lennar Corporation $LEN

Key Points

• Concurrent Investment Advisors increased its Lennar stake by 77.1% in the second quarter, holding 89,178 shares valued at approximately $8.07 million. Institutional investors collectively own 81.1% of Lennar’s stock.
• Lennar reported quarterly EPS of $1.31, exceeding estimates of $1.24, but revenue fell 5.2% year over year to $7.94 billion. The company maintained a $0.50 quarterly dividend, representing a 2.4% annualized yield.
• LEN shares opened at $83.70, near the lower end of their 52-week range, while analysts remain cautious: the stock has a consensus “Reduce” rating and an average price target of $92.13.

Concurrent Investment Advisors LLC increased its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 77.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,178 shares of the construction company's stock after purchasing an additional 38,822 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Lennar were worth $8,070,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC grew its stake in shares of Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company's stock valued at $141,000 after buying an additional 85 shares during the last quarter. Rossby Financial LCC boosted its holdings in Lennar by 9.1% during the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company's stock valued at $109,000 after acquiring an additional 88 shares during the period. New Mexico Educational Retirement Board grew its position in Lennar by 1.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company's stock worth $1,086,000 after acquiring an additional 100 shares during the last quarter. KDT Advisors LLC increased its stake in Lennar by 2.7% in the 3rd quarter. KDT Advisors LLC now owns 4,654 shares of the construction company's stock worth $587,000 after purchasing an additional 123 shares during the period. Finally, KCM Investment Advisors LLC lifted its position in Lennar by 1.3% in the first quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company's stock valued at $858,000 after purchasing an additional 125 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Lennar Stock Performance

Shares of LEN stock opened at $83.70 on Friday. The firm has a market capitalization of $20.16 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 2.78 and a beta of 1.39. The stock has a fifty day moving average of $85.63 and a 200 day moving average of $91.04. Lennar Corporation has a 52 week low of $79.82 and a 52 week high of $144.24. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19.

Lennar (NYSE:LEN - Get Free Report) last issued 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. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The business had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $8.08 billion. During the same period in the previous year, the firm earned $1.81 EPS. The company's quarterly revenue was down 5.2% compared to the same quarter last year. As a group, research analysts expect that Lennar Corporation will post 5.52 earnings per share for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, July 10th. Lennar's dividend payout ratio is presently 31.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LEN. Wells Fargo & Company cut their target price on shares of Lennar from $90.00 to $85.00 and set an "equal weight" rating on the stock in a report on Monday, June 15th. Zacks Research lowered shares of Lennar from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 16th. Argus set a $108.00 price target on shares of Lennar in a research report on Thursday, July 9th. Evercore boosted their price objective on shares of Lennar from $82.00 to $87.00 and gave the company an "underperform" rating in a research report on Monday, June 15th. Finally, Barclays lowered their price objective on shares of Lennar from $80.00 to $79.00 and set an "underweight" rating for the company in a research note on Monday, June 15th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $92.13.

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.

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