Lennar Corporation $LEN Shares Acquired by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC increased its position in Lennar Corporation (NYSE:LEN) by 18.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,223 shares of the construction company’s stock after purchasing an additional 8,555 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Lennar were worth $6,834,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in Lennar during the 2nd quarter worth approximately $33,000. Rexford Capital Inc. bought a new position in Lennar during the second quarter worth $36,000. Mid American Wealth Advisory Group Inc. acquired a new position in Lennar in the second quarter worth $43,000. Cary Street Partners Financial LLC bought a new stake in Lennar during the second quarter valued at $47,000. Finally, Harbor Investment Advisory LLC raised its holdings in shares of Lennar by 39.7% during the third quarter. Harbor Investment Advisory LLC now owns 405 shares of the construction company’s stock worth $51,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Down 3.0%

LEN opened at $118.57 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.89 and a quick ratio of 1.36. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $144.24. The stock’s 50 day moving average price is $116.88 and its 200 day moving average price is $121.76. The stock has a market cap of $30.24 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.37 and a beta of 1.42.

Lennar (NYSE:LEN) last released its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a return on equity of 9.27% and a net margin of 6.08%.The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same period in the previous year, the company posted $4.03 EPS. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, research analysts predict that Lennar Corporation will post 12.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LEN. JPMorgan Chase & Co. lowered their price objective on shares of Lennar from $115.00 to $80.00 and set an “underweight” rating for the company in a research report on Thursday, December 18th. UBS Group lowered Lennar from a “buy” rating to a “neutral” rating and lowered their target price for the company from $137.00 to $122.00 in a report on Tuesday, January 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $125.00 price target on shares of Lennar in a report on Tuesday, January 13th. Zacks Research downgraded Lennar from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Finally, Raymond James Financial downgraded shares of Lennar from a “market perform” rating to an “underperform” rating in a report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have given a Hold rating and eight have assigned a Sell rating to the company’s stock. According to MarketBeat, Lennar currently has an average rating of “Reduce” and a consensus price target of $106.38.

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.