CX Institutional Sells 9,568 Shares of Lennar Corporation $LEN

Key Points

• CX Institutional significantly reduced its stake in Lennar Corporation by 74.1%, selling 9,568 shares and now holding only 3,346 shares, valued at $370,000.
• Lennar's recent earnings report showed a profit of $2.29 per share, exceeding estimates, but revenue fell by 6.4% year-over-year, totaling $8.81 billion.
• Multiple research firms have adjusted their price targets for Lennar, with JPMorgan Chase lowering its target from $97 to $92, reflecting varying analyst sentiments about the stock's future.

CX Institutional reduced its position in Lennar Corporation (NYSE:LEN - Free Report) by 74.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,346 shares of the construction company's stock after selling 9,568 shares during the quarter. CX Institutional's holdings in Lennar were worth $370,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriflex Group Inc. bought a new position in shares of Lennar during the fourth quarter valued at $30,000. Opal Wealth Advisors LLC bought a new position in shares of Lennar during the first quarter valued at $30,000. NBC Securities Inc. bought a new position in shares of Lennar during the first quarter valued at $33,000. Franchise Capital Ltd bought a new position in shares of Lennar during the first quarter valued at $38,000. Finally, Disciplina Capital Management LLC lifted its holdings in shares of Lennar by 179.8% during the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock valued at $38,000 after acquiring an additional 214 shares during the period. 81.10% of the stock is owned by institutional investors.

Lennar Price Performance

Shares of LEN stock opened at $121.90 on Tuesday. 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 Corporation has a twelve month low of $98.42 and a twelve month high of $189.65. The company has a market cap of $31.57 billion, a P/E ratio of 12.04, a P/E/G ratio of 5.40 and a beta of 1.33. The business has a fifty day simple moving average of $126.15 and a 200 day simple moving average of $115.89.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results 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 company had revenue of $8.81 billion for the quarter, compared to analysts' expectations of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business's quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.90 earnings per share. On average, sell-side analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on LEN. JPMorgan Chase & Co. cut their price target on Lennar from $97.00 to $92.00 and set a "neutral" rating for the company in a report on Monday. Citigroup reaffirmed an "outperform" rating on shares of Lennar in a report on Monday. Zacks Research raised Lennar from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. Zelman & Associates cut Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Finally, Evercore ISI lifted their price objective on Lennar from $114.00 to $118.00 and gave the stock an "in-line" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $123.25.

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.

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