Third View Private Wealth LLC Takes $1.27 Million Position in Lennar Corporation $LEN

Key Points

• Third View Private Wealth LLC opened a new Q4 position in Lennar, purchasing 12,344 shares valued at about $1.27 million.
• Lennar missed Q4 estimates with EPS of $0.88 (vs. $0.95 expected) and revenue of $6.62B (down 13.3% YoY), and analysts have trimmed price targets leaving a consensus rating of "Reduce" and a $98.79 target.
• The company announced a quarterly dividend of $0.50 (annualized $2.00, ~2.2% yield; ex-dividend Apr 22), and institutional investors hold roughly 81.1% of the stock.

Third View Private Wealth LLC acquired a new stake in Lennar Corporation (NYSE:LEN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,344 shares of the construction company's stock, valued at approximately $1,269,000.

A number of other large investors also recently modified their holdings of the company. Transcend Capital Advisors LLC boosted its position in shares of Lennar by 11.3% in the fourth quarter. Transcend Capital Advisors LLC now owns 4,181 shares of the construction company's stock valued at $430,000 after acquiring an additional 423 shares during the period. Live Oak Private Wealth LLC purchased a new position in Lennar in the 4th quarter worth approximately $939,000. Howard Capital Management Inc. grew its stake in Lennar by 9.5% in the 4th quarter. Howard Capital Management Inc. now owns 35,273 shares of the construction company's stock worth $3,626,000 after buying an additional 3,073 shares in the last quarter. Legacy Trust grew its stake in Lennar by 6.1% in the 4th quarter. Legacy Trust now owns 53,795 shares of the construction company's stock worth $5,530,000 after buying an additional 3,115 shares in the last quarter. Finally, Flagship Capital Management Inc. purchased a new position in Lennar in the 4th quarter worth approximately $1,478,000. 81.10% of the stock is currently owned by institutional investors.

Lennar Trading Up 0.8%

NYSE:LEN opened at $89.71 on Tuesday. The company has a fifty day moving average of $102.53 and a 200 day moving average of $113.16. Lennar Corporation has a 52 week low of $83.03 and a 52 week high of $144.24. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $22.16 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.91 and a beta of 1.47.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.95 by ($0.07). The company had revenue of $6.62 billion for the quarter, compared to analysts' expectations of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The firm's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.14 earnings per share. On average, research analysts predict that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, April 22nd. Lennar's payout ratio is presently 28.74%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of Lennar from $105.00 to $97.00 and set a "market perform" rating for the company in a research note on Wednesday, April 1st. Seaport Research Partners reissued a "sell" rating and issued a $74.00 price target (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. Truist Financial cut their price target on shares of Lennar from $95.00 to $90.00 and set a "hold" rating for the company in a research note on Tuesday, March 31st. UBS Group cut their price target on shares of Lennar from $122.00 to $107.00 and set a "neutral" rating for the company in a research note on Monday, March 16th. Finally, Barclays cut their price target on shares of Lennar from $85.00 to $80.00 and set an "underweight" rating for the company in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Hold rating and eight have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Lennar has a consensus rating of "Reduce" and a consensus target price of $98.79.

Lennar Profile

Lennar Corporation NYSE: LEN is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.

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