CX Institutional Decreases Stake in Lennar Corporation $LEN

Key Points

• CX Institutional significantly reduced its stake in Lennar Corporation by 74.1% during the second quarter, selling 9,568 shares and leaving it with 3,346 shares valued at approximately $370,000.
• Wall Street analysts have mixed outlooks on Lennar, with price targets ranging from $95 to $135 and an overall average target price of $123.75, indicating a predominately "Hold" rating.
• Lennar reported earnings of $2.29 per share exceeding expectations, although its revenue of $8.81 billion fell short of analyst estimates, reflecting a 6.4% decrease year-over-year.

CX Institutional reduced its position in Lennar Corporation (NYSE:LEN - Free Report) by 74.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,346 shares of the construction company's stock after selling 9,568 shares during the period. CX Institutional's holdings in Lennar were worth $370,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LEN. Ameriflex Group Inc. purchased a new position in Lennar in the 4th quarter valued at about $30,000. Opal Wealth Advisors LLC purchased a new position in Lennar in the 1st quarter valued at about $30,000. NBC Securities Inc. purchased a new position in Lennar in the 1st quarter valued at about $33,000. Disciplina Capital Management LLC boosted its position in Lennar by 179.8% in the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock valued at $38,000 after buying an additional 214 shares during the last quarter. Finally, Oakworth Capital Inc. boosted its position in Lennar by 139.9% in the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock valued at $39,000 after buying an additional 200 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LEN has been the topic of several research analyst reports. Evercore ISI increased their price target on shares of Lennar from $114.00 to $118.00 and gave the stock an "in-line" rating in a research report on Monday, September 22nd. Barclays reduced their price target on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. Bank of America increased their price target on shares of Lennar from $115.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, September 18th. Wells Fargo & Company increased their price target on shares of Lennar from $110.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Lennar from $122.00 to $126.00 and gave the stock a "neutral" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $123.75.

Lennar Price Performance

LEN opened at $126.08 on Friday. The firm has a market cap of $32.66 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 5.55 and a beta of 1.33. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $189.65. The company's 50-day moving average price is $127.39 and its 200 day moving average price is $116.04. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.15. The firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. Lennar's quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.90 earnings per share. As a group, sell-side analysts expect that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.6%. Lennar's dividend payout ratio (DPR) is 19.76%.

About Lennar

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.

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