Pallas Capital Advisors LLC Purchases Shares of 2,782 Lennar Corporation $LEN

Key Points

• Pallas Capital Advisors LLC has purchased 2,782 shares of Lennar Corporation (NYSE: LEN), valued at approximately $308,000, indicating growing institutional interest in the company.
• Research firms have adjusted their price targets for Lennar, with Evercore ISI lowering its target from $131 to $114 while others maintained or increased their ratings amid mixed earnings performance.
• Lennar reported a quarterly revenue of $8.81 billion but had a year-over-year decline of 6.4%, with earnings per share of $2.29, surpassing analyst expectations.

Pallas Capital Advisors LLC purchased a new stake in Lennar Corporation (NYSE:LEN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,782 shares of the construction company's stock, valued at approximately $308,000.

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

Analyst Ratings Changes

A number of research firms have commented on LEN. Evercore ISI reduced their price objective on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research report on Wednesday, June 18th. UBS Group reduced their target price on shares of Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Barclays reduced their target price on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. Royal Bank Of Canada cut their price objective on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research report on Wednesday, June 18th. Finally, Bank of America boosted their target price on Lennar from $115.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $128.33.

Lennar Stock Performance

NYSE:LEN opened at $127.17 on Monday. The company has a market capitalization of $32.94 billion, a PE ratio of 12.57, a P/E/G ratio of 5.40 and a beta of 1.33. The company has a 50 day simple moving average of $125.97 and a two-hundred day simple moving average of $115.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $189.65.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.14 by $0.15. The company had revenue of $8.81 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $3.90 EPS. Research analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

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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