Cutler Investment Counsel LLC Increases Stock Position in Lennar Corporation $LEN

Cutler Investment Counsel LLC increased its holdings in Lennar Corporation (NYSE:LEN) by 59.3% during the 4th quarter, Holdings Channel reports. The firm owned 42,464 shares of the construction company’s stock after buying an additional 15,802 shares during the period. Cutler Investment Counsel LLC’s holdings in Lennar were worth $4,365,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Viking Global Investors LP boosted its holdings in Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after acquiring an additional 1,172,068 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Lennar by 14.6% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after purchasing an additional 603,004 shares in the last quarter. Todd Asset Management LLC purchased a new stake in shares of Lennar in the 3rd quarter worth about $26,371,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Lennar by 319.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 274,173 shares of the construction company’s stock valued at $34,557,000 after buying an additional 208,800 shares during the period. Finally, Duquesne Family Office LLC raised its position in shares of Lennar by 210.8% in the 3rd quarter. Duquesne Family Office LLC now owns 279,424 shares of the construction company’s stock worth $35,219,000 after acquiring an additional 189,524 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar News Roundup

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Lennar reported Q2 adjusted EPS of $1.31, topping consensus of $1.23, which suggests earnings held up better than Wall Street expected. Article Title
• Positive Sentiment: The company continued returning capital, repurchasing 5 million shares for $447 million, and it ended the quarter with $1.8 billion in cash and no borrowings on its revolving credit facility. Article Title
• Neutral Sentiment: Deliveries rose 2% year over year to 20,519 homes, showing some operational resilience even as the housing market remains pressured. Article Title
• Negative Sentiment: Lennar also cut its full-year delivery outlook to roughly 82,000 to 83,000 homes, citing stubborn housing-market headwinds, high interest rates, and geopolitical uncertainty. Article Title
• Negative Sentiment: Revenue missed estimates at $7.9 billion versus about $8.10 billion, and new orders fell 4% year over year, underscoring softer demand. Article Title
• Negative Sentiment: Some investors also had to absorb earlier analyst caution, including a price-target cut from Bank of America to $84, reflecting continued concern about housing affordability and rates. Article Title

Lennar Price Performance

LEN opened at $94.95 on Friday. The firm has a market cap of $23.45 billion, a PE ratio of 13.64, a P/E/G ratio of 1.99 and a beta of 1.39. The stock has a 50-day moving average price of $89.28 and a 200-day moving average price of $103.46. Lennar Corporation has a 1 year low of $81.18 and a 1 year high of $144.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.24 by $0.07. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The company had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $8.08 billion. During the same period in the prior year, the firm posted $1.81 EPS. Lennar’s revenue for the quarter was down 5.2% on a year-over-year basis. Sell-side analysts predict that Lennar Corporation will post 5.87 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. Lennar’s dividend payout ratio is presently 28.74%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LEN. Keefe, Bruyette & Woods cut Lennar from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $97.00 to $86.00 in a research note on Tuesday. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Lennar in a research report on Friday, June 5th. Evercore dropped their price objective on shares of Lennar from $89.00 to $82.00 and set an “underperform” rating on the stock in a research note on Monday, April 13th. Argus cut their price objective on shares of Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Finally, Citigroup lowered their target price on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $97.27.

Lennar Company 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.