Turtle Creek Wealth Advisors LLC Purchases 3,627 Shares of Lennar Corporation $LEN

Key Points

• Turtle Creek Wealth Advisors LLC has increased its stake in Lennar Corporation by 8.6%, acquiring an additional 3,627 shares in the second quarter, bringing its total holdings to 45,668 shares valued at approximately $5.05 million.
• Despite a reported EPS of $2.29 for the quarter, which beat estimates, Lennar's revenue fell short of expectations at $8.81 billion, down 6.4% year-over-year.
• Lennar announced a quarterly dividend of $0.50, indicating a yield of 1.6% as part of a broader strategy amid fluctuating analyst ratings and market performance.

Turtle Creek Wealth Advisors LLC increased its stake in Lennar Corporation (NYSE:LEN - Free Report) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,668 shares of the construction company's stock after purchasing an additional 3,627 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in Lennar were worth $5,051,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Disciplina Capital Management LLC raised its position in shares of 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 acquiring an additional 214 shares during the last quarter. Oakworth Capital Inc. raised its position in shares of Lennar by 139.9% during the first quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock worth $39,000 after acquiring an additional 200 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Lennar during the first quarter worth $44,000. Valley National Advisers Inc. raised its position in shares of Lennar by 34.7% during the first quarter. Valley National Advisers Inc. now owns 466 shares of the construction company's stock worth $53,000 after acquiring an additional 120 shares during the last quarter. Finally, Horizon Financial Services LLC bought a new stake in shares of Lennar during the first quarter worth $66,000. Institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LEN shares. Zacks Research downgraded Lennar from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. dropped their target price on shares of Lennar from $97.00 to $92.00 and set a "neutral" rating for the company in a research report on Monday, September 22nd. Citigroup reiterated an "outperform" rating on shares of Lennar in a research report on Monday, September 22nd. Bank of America dropped their target price on shares of Lennar from $133.00 to $125.00 and set a "neutral" rating for the company in a research report on Friday, October 10th. Finally, The Goldman Sachs Group upped their target price on shares of Lennar from $122.00 to $126.00 and gave the company a "neutral" rating in a research report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $121.75.

Lennar Price Performance

LEN opened at $122.52 on Thursday. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $189.65. The company has a fifty day simple moving average of $129.44 and a 200 day simple moving average of $116.57. The stock has a market cap of $31.24 billion, a P/E ratio of 12.11, a P/E/G ratio of 5.69 and a beta of 1.37.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.15. The business had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm's quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.90 EPS. On average, research analysts expect that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. Lennar's dividend payout ratio is presently 19.76%.

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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