Lennar Corporation $LEN Holdings Reduced by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Lennar stake by 89.6% in the third quarter, selling 54,888 shares and retaining 6,401 shares valued at approximately $522,000. Institutional investors still own 81.1% of the company.
• Lennar’s latest results showed weakness: quarterly EPS of $1.23 missed estimates, revenue fell 8.7% year over year to $8.05 billion, and shares opened at $77.06, near the lower end of their 52-week range.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and a $79 price target, although Berkshire Hathaway increased its position by 1.7 million shares and Lennar announced a $0.50 quarterly dividend.

Curated Wealth Partners LLC decreased its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 89.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,401 shares of the construction company's stock after selling 54,888 shares during the quarter. Curated Wealth Partners LLC's holdings in Lennar were worth $522,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. KCM Investment Advisors LLC raised its stake in Lennar by 1.3% during the first quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company's stock worth $858,000 after acquiring an additional 125 shares in the last quarter. Wisconsin Wealth Advisors LLC grew its holdings in Lennar by 2.2% during the 3rd quarter. Wisconsin Wealth Advisors LLC now owns 6,495 shares of the construction company's stock worth $530,000 after acquiring an additional 140 shares during the last quarter. Ritholtz Wealth Management increased its position in Lennar by 5.4% in the 1st quarter. Ritholtz Wealth Management now owns 2,926 shares of the construction company's stock valued at $254,000 after acquiring an additional 150 shares in the last quarter. Unison Advisors LLC grew its stake in shares of Lennar by 0.4% during the first quarter. Unison Advisors LLC now owns 37,815 shares of the construction company's stock valued at $3,284,000 after purchasing an additional 154 shares during the last quarter. Finally, Wedmont Private Capital boosted its position in Lennar by 4.8% in the 2nd quarter. Wedmont Private Capital now owns 3,460 shares of the construction company's stock valued at $292,000 after buying an additional 157 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Lennar Stock Down 0.8%

Shares of NYSE LEN opened at $77.06 on Friday. The stock has a market cap of $18.33 billion, a P/E ratio of 14.26, a P/E/G ratio of 2.92 and a beta of 1.36. The firm has a 50 day moving average price of $81.79 and a 200 day moving average price of $85.87. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 4.94. Lennar Corporation has a 52-week low of $71.78 and a 52-week high of $133.76.

Lennar (NYSE:LEN - Get Free Report) last announced its earnings results on Wednesday, September 16th. The construction company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.06). Lennar had a return on equity of 6.15% and a net margin of 4.09%. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $8.32 billion. During the same quarter last year, the business posted $2.00 earnings per share. The business's quarterly revenue was down 8.7% on a year-over-year basis. Analysts expect that Lennar Corporation will post 4.87 EPS for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Wednesday, October 7th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, October 7th. Lennar's dividend payout ratio is presently 37.81%.

Trending Headlines about Lennar

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Berkshire Hathaway support remains a potential catalyst. Recent disclosures indicated that Berkshire Hathaway increased its Lennar position to more than 28.4 million Class A shares, or approximately 12.5% of the outstanding stock. Investors may view the purchases as a signal that LEN is undervalued despite near-term homebuilding challenges. Why Lennar Stock Is Up Today
• Positive Sentiment: Lennar is expanding its attainable-housing pipeline. The company broke ground on The Foundry, a downtown Las Vegas project expected to include more than 1,000 homes, and opened Foxwood in Decatur, where homes start in the low-$200,000s. These projects could support future deliveries and broaden Lennar’s exposure to more affordable buyers. Lennar Breaks Ground on The Foundry Lennar Opens Foxwood
• Neutral Sentiment: Lennar completed a $300 million senior-notes offering. The financing increases liquidity for land, construction and corporate purposes, although it also adds interest obligations and leverage. Lennar Raises Capital via New Senior Notes Offering
• Negative Sentiment: Fundamental results remain a key overhang. Lennar’s latest quarterly EPS and revenue missed consensus estimates, while revenue fell 8.7% year over year and EPS declined from the prior-year period. Analysts are now focused on whether deliveries, margins and demand can improve in the next report. Why Is Lennar Down Since Its Earnings Report
• Negative Sentiment: Shares reached a new one-year low amid continued weakness. The move reflects investor concerns about mortgage rates, affordability, housing demand and pressured homebuilding margins. Lennar Reaches New One-Year Low
• Negative Sentiment: Multiple law firms announced securities-fraud investigations. The inquiries allege possible federal securities-law violations; no wrongdoing has been established, but the headlines add reputational and potential litigation risk. Securities Fraud Investigation Into Lennar

Wall Street Analyst Weigh In

Several research firms have recently commented on LEN. Weiss Ratings raised Lennar from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, October 6th. Seaport Research Partners cut their price objective on shares of Lennar from $74.00 to $70.00 and set a "sell" rating on the stock in a report on Monday, September 21st. Melius Research assumed coverage on shares of Lennar in a research note on Tuesday, October 6th. They issued a "sell" rating and a $72.00 price objective on the stock. Morgan Stanley initiated coverage on shares of Lennar in a report on Thursday, October 1st. They set an "underweight" rating and a $65.00 target price for the company. Finally, Benchmark upgraded shares of Lennar to a "hold" rating in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and ten have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $79.00.

Insider Transactions at Lennar

In related news, major shareholder Berkshire Hathaway Inc purchased 1,708,095 shares of Lennar stock in a transaction that occurred on Friday, October 2nd. The stock was purchased at an average cost of $79.44 per share, with a total value of $135,691,066.80. Following the completion of the transaction, the insider owned 28,438,045 shares of the company's stock, valued at approximately $2,259,118,294.80. This trade represents a 6.39% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 7,502,276 shares of company stock worth $595,303,287 in the last 90 days. Corporate insiders own 10.05% of the company's stock.

About Lennar

Lennar Corporation NYSE: LEN is a homebuilding company that designs, constructs and sells single-family homes and, through its multifamily operations, develops apartment communities. Its residential offerings generally include homes across a range of sizes and prices, serving first-time, move-up and active-adult buyers.

The company also provides related services through businesses involved in mortgage financing, title and closing services, insurance and other real estate activities. Lennar develops residential communities and manages land acquisition, planning and construction as part of its integrated homebuilding model.

Founded in 1954, Lennar has expanded from its origins in South Florida into a national homebuilder serving numerous markets across the United States.

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