Sava Infond d.o.o. Acquires 2,000 Shares of Lennar Corporation $LEN

Key Points

• Sava Infond d.o.o. increased its stake in Lennar Corporation by 46% in Q2, purchasing an additional 2,000 shares, bringing its total holdings to 6,350 shares valued at approximately $702,000.
• Multiple hedge funds, including The Manufacturers Life Insurance Company and Eminence Capital LP, have significantly increased their stakes in Lennar during 2023, indicating strong institutional interest in the company.
• Lennar's recent earnings report showed EPS of $2.29, surpassing estimates, despite a revenue decline of 6.4% year-over-year, highlighting the challenges the construction sector is facing.

Sava Infond d.o.o. boosted its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 46.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,350 shares of the construction company's stock after purchasing an additional 2,000 shares during the quarter. Sava Infond d.o.o.'s holdings in Lennar were worth $702,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its stake in Lennar by 45.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company's stock valued at $1,020,866,000 after purchasing an additional 2,777,567 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of Lennar in the 2nd quarter worth approximately $424,950,000. Brave Warrior Advisors LLC lifted its position in shares of Lennar by 23.4% in the 1st quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company's stock worth $251,323,000 after acquiring an additional 415,218 shares during the period. Eminence Capital LP lifted its position in shares of Lennar by 130.8% in the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company's stock worth $181,523,000 after acquiring an additional 896,264 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Lennar by 20.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 736,490 shares of the construction company's stock worth $84,534,000 after acquiring an additional 123,266 shares during the period. Institutional investors own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LEN. Bank of America raised their price objective on Lennar from $115.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, September 18th. Barclays reduced their price objective on Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. JPMorgan Chase & Co. reduced their price objective on Lennar from $97.00 to $92.00 and set a "neutral" rating for the company in a research report on Monday, September 22nd. The Goldman Sachs Group raised their price objective on Lennar from $122.00 to $126.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 23rd. Finally, UBS Group raised their price objective on Lennar from $146.00 to $161.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Lennar presently has an average rating of "Hold" and a consensus target price of $123.75.

Lennar Price Performance

Lennar stock opened at $130.13 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The company has a market capitalization of $33.70 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 5.74 and a beta of 1.37. Lennar Corporation has a one year low of $98.42 and a one year high of $189.65. The business has a 50 day simple moving average of $128.71 and a 200 day simple moving average of $116.38.

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $9.01 billion. During the same quarter last year, the company earned $3.90 EPS. Lennar's revenue was down 6.4% on a year-over-year basis. On average, sell-side analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, October 10th. Lennar's dividend payout ratio (DPR) is currently 19.76%.

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.

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