Freestone Capital Holdings LLC Acquires 3,189 Shares of Lennar Corporation $LEN

Key Points

• Freestone Capital Holdings LLC has increased its stake in Lennar Corporation by 10.8%, owning 32,785 shares valued at approximately $3.76 million.
• In recent updates, various brokerages have revised their price targets for Lennar, with Barclays lowering it from $110.00 to $95.00, indicating a cautious outlook on the stock.
• Lennar's latest earnings report showed an EPS of $1.90, which was below estimates, and a revenue of $8.38 billion, down 4.4% from the previous year, highlighting ongoing challenges in the homebuilding sector.

Freestone Capital Holdings LLC boosted its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 10.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,785 shares of the construction company's stock after acquiring an additional 3,189 shares during the quarter. Freestone Capital Holdings LLC's holdings in Lennar were worth $3,763,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LEN. Ameriflex Group Inc. acquired a new position in shares of Lennar in the 4th quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Lennar during the first quarter worth $30,000. NBC Securities Inc. acquired a new stake in shares of Lennar in the first quarter valued at $33,000. Franchise Capital Ltd bought a new position in shares of Lennar in the first quarter worth about $38,000. Finally, Oakworth Capital Inc. grew its stake in shares of Lennar by 139.9% during the first quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

LEN has been the topic of several research reports. Wall Street Zen downgraded Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Barclays decreased their price target on Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. Zelman & Associates cut Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Royal Bank Of Canada reduced their target price on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a research note on Wednesday, June 18th. Finally, Bank of America dropped their price target on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating for the company 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 issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $128.85.

Lennar Trading Down 3.0%

LEN traded down $4.0310 during mid-day trading on Wednesday, hitting $130.2190. The stock had a trading volume of 3,651,903 shares, compared to its average volume of 3,183,677. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $193.80. The firm has a market capitalization of $33.73 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 5.58 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. The stock's fifty day simple moving average is $115.19 and its 200-day simple moving average is $114.19.

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.04). The business had revenue of $8.38 billion for 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%.The business's revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.45 earnings per share. As a group, research analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, July 3rd. Lennar's dividend payout ratio 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.