Lennar Corporation $LEN Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its holdings in Lennar Corporation by 8.0%, resulting in ownership of 62,681 shares valued at approximately $6.93 million as of the recent quarter.
• Several hedge funds have significantly raised their stakes in Lennar, with The Manufacturers Life Insurance Company lifting its stake by 45.4%, now holding nearly 8.9 million shares valued at over $1 billion.
• Lennar's shares have experienced mixed analyst ratings, with a consensus rating of "Hold" and a price target of $121.75, despite recent downgrades from multiple analysts.

Aberdeen Group plc lifted its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,681 shares of the construction company's stock after buying an additional 4,657 shares during the period. Aberdeen Group plc's holdings in Lennar were worth $6,933,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in shares of Lennar by 45.4% during the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company's stock worth $1,020,866,000 after buying an additional 2,777,567 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Lennar during the second quarter worth about $424,950,000. Brave Warrior Advisors LLC boosted its stake in shares of Lennar by 23.4% during the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company's stock worth $251,323,000 after buying an additional 415,218 shares during the period. Eminence Capital LP boosted its stake in shares of Lennar by 130.8% during the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company's stock worth $181,523,000 after buying an additional 896,264 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Lennar by 20.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 736,490 shares of the construction company's stock worth $84,534,000 after purchasing an additional 123,266 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Ratings Changes

LEN has been the subject of several analyst reports. Evercore ISI cut their price target on shares of Lennar from $118.00 to $114.00 and set an "in-line" rating for the company in a report on Tuesday, October 7th. Raymond James Financial cut shares of Lennar from a "market perform" rating to an "underperform" rating in a report on Monday, September 22nd. Zacks Research cut shares of Lennar from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 7th. UBS Group increased their price target on shares of Lennar from $146.00 to $161.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Lennar from $97.00 to $92.00 and set a "neutral" rating for the company in a report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Lennar presently has a consensus rating of "Hold" and a consensus price target of $121.75.

Lennar Stock Up 0.2%

LEN stock opened at $122.74 on Friday. The company's 50 day simple moving average is $129.50 and its 200-day simple moving average is $116.62. The firm has a market capitalization of $31.30 billion, a PE ratio of 12.13, a P/E/G ratio of 5.70 and a beta of 1.37. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $189.65. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. The business 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%. The company's quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.90 earnings per share. Equities analysts expect that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be given a $0.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. Lennar's dividend payout ratio is currently 19.76%.

Lennar Company 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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