Lennar Corporation (NYSE:LEN) Stake Lifted by Private Advisory Group LLC

Key Points

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Private Advisory Group LLC lifted its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 99.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,033 shares of the construction company's stock after acquiring an additional 38,864 shares during the quarter. Lennar comprises approximately 1.0% of Private Advisory Group LLC's holdings, making the stock its 29th biggest holding. Private Advisory Group LLC's holdings in Lennar were worth $8,957,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LEN. Castlekeep Investment Advisors LLC acquired a new position in Lennar in the 4th quarter worth $218,533,000. ANTIPODES PARTNERS Ltd acquired a new position in Lennar in the 1st quarter worth $41,788,000. AustralianSuper Pty Ltd acquired a new position in Lennar in the 1st quarter worth $37,055,000. D1 Capital Partners L.P. lifted its holdings in Lennar by 67.3% in the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock worth $88,116,000 after buying an additional 270,433 shares in the last quarter. Finally, Man Group plc lifted its holdings in Lennar by 112.5% in the 4th quarter. Man Group plc now owns 506,722 shares of the construction company's stock worth $69,102,000 after buying an additional 268,209 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Performance

LEN traded up $3.79 on Friday, hitting $115.97. 3,639,324 shares of the company's stock were exchanged, compared to its average volume of 2,828,674. The firm has a market cap of $30.04 billion, a PE ratio of 9.59, a P/E/G ratio of 4.76 and a beta of 1.29. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $193.80. The stock has a fifty day moving average of $110.63 and a two-hundred day moving average of $115.14. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data 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). Lennar had a return on equity of 12.73% and a net margin of 9.20%. The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. During the same quarter last year, the company earned $3.45 EPS. Lennar's revenue was down 4.4% compared to the same quarter last year. On average, research analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were given a $0.50 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.00 annualized dividend and a yield of 1.7%. Lennar's dividend payout ratio is 16.54%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Evercore ISI cut their price objective on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating on the stock in a report on Wednesday, June 18th. Zelman & Associates lowered shares of Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Bank of America reduced their price target on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. JMP Securities decreased their price target on Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a research note on Friday, June 20th. Finally, Wells Fargo & Company cut their price objective on Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $128.85.

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.