Burney Co. Reduces Stock Holdings in Lennar Corporation $LEN

Burney Co. lessened its stake in Lennar Corporation (NYSE:LEN) by 57.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,697 shares of the construction company’s stock after selling 3,624 shares during the quarter. Burney Co.’s holdings in Lennar were worth $298,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LEN. Secured Retirement Advisors LLC purchased a new position in shares of Lennar in the first quarter valued at $926,000. Marks Group Wealth Management Inc boosted its position in Lennar by 15.4% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,183 shares of the construction company’s stock valued at $251,000 after buying an additional 292 shares during the last quarter. Turtle Creek Wealth Advisors LLC grew its stake in shares of Lennar by 24.8% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 42,041 shares of the construction company’s stock valued at $4,825,000 after acquiring an additional 8,357 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc increased its position in shares of Lennar by 77.7% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company’s stock worth $419,000 after acquiring an additional 1,596 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of Lennar by 5.4% in the first quarter. Brown Advisory Inc. now owns 6,965 shares of the construction company’s stock worth $799,000 after acquiring an additional 354 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of LEN opened at $120.41 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. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $180.12. The business’s fifty day moving average price is $127.90 and its 200 day moving average price is $118.56. The stock has a market capitalization of $30.71 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 5.78 and a beta of 1.33.

Lennar (NYSE:LEN) last issued 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. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The company had revenue of $8.81 billion for the quarter, compared to analysts’ expectations of $9.01 billion. During the same period in the prior year, the company earned $3.90 earnings per share. The firm’s revenue was down 6.4% compared to the same quarter last year. Equities research analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Friday, October 10th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, October 10th. Lennar’s payout ratio is presently 19.76%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LEN. Citigroup restated an “outperform” rating on shares of Lennar in a research note on Monday, September 22nd. Wells Fargo & Company decreased their price target on shares of Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, October 10th. The Goldman Sachs Group lifted their price target on shares of Lennar from $122.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Royal Bank Of Canada increased their price objective on shares of Lennar from $98.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, September 22nd. Finally, UBS Group boosted their target price on shares of 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 assigned a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $121.75.

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.