Asset Management One Co. Ltd. Boosts Stake in Lennar Corporation $LEN

Asset Management One Co. Ltd. increased its position in Lennar Corporation (NYSE:LEN) by 0.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 101,095 shares of the construction company’s stock after purchasing an additional 836 shares during the period. Asset Management One Co. Ltd.’s holdings in Lennar were worth $11,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Secured Retirement Advisors LLC acquired a new stake in shares of Lennar in the 1st quarter worth approximately $926,000. Marks Group Wealth Management Inc raised its position in shares of Lennar by 15.4% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,183 shares of the construction company’s stock worth $251,000 after buying an additional 292 shares during the period. Turtle Creek Wealth Advisors LLC increased its holdings in Lennar by 24.8% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 42,041 shares of the construction company’s stock valued at $4,825,000 after purchasing an additional 8,357 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc increased its holdings in Lennar by 77.7% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company’s stock valued at $419,000 after purchasing an additional 1,596 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in Lennar by 5.4% in the 1st quarter. Brown Advisory Inc. now owns 6,965 shares of the construction company’s stock valued at $799,000 after purchasing an additional 354 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Up 0.3%

LEN stock opened at $127.69 on Monday. The firm has a market cap of $32.56 billion, a PE ratio of 12.62, a PEG ratio of 5.94 and a beta of 1.37. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $180.12. The company has a fifty day simple moving average of $129.55 and a 200 day simple moving average of $117.49.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. The firm had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The business’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.90 EPS. Sell-side analysts anticipate that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, October 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Lennar’s dividend payout ratio is currently 19.76%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LEN. JPMorgan Chase & Co. lowered their target price on Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a research note on Monday, September 22nd. Citigroup restated an “outperform” rating on shares of Lennar in a research note on Monday, September 22nd. Wedbush reaffirmed a “neutral” rating and set a $130.00 price target on shares of Lennar in a report on Monday, September 22nd. Wells Fargo & Company cut their price target on Lennar from $135.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, October 10th. Finally, UBS Group boosted their target price on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $121.75.

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.