Concurrent Investment Advisors LLC Purchases 38,822 Shares of Lennar Corporation $LEN

Concurrent Investment Advisors LLC increased its position in Lennar Corporation (NYSE:LEN) by 77.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,178 shares of the construction company’s stock after purchasing an additional 38,822 shares during the period. Concurrent Investment Advisors LLC’s holdings in Lennar were worth $8,070,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LEN. Brighton Jones LLC increased its stake in shares of Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after acquiring an additional 377 shares in the last quarter. Intech Investment Management LLC grew its holdings in Lennar by 29.8% in the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock worth $1,589,000 after purchasing an additional 3,177 shares during the period. Jump Financial LLC increased its stake in shares of Lennar by 15.0% during the second quarter. Jump Financial LLC now owns 25,622 shares of the construction company’s stock valued at $2,834,000 after purchasing an additional 3,345 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Lennar during the second quarter valued at approximately $47,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Lennar by 4.6% during the second quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company’s stock valued at $3,867,000 after purchasing an additional 1,544 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Shares of LEN opened at $83.70 on Friday. Lennar Corporation has a twelve month low of $79.82 and a twelve month high of $144.24. The company has a market capitalization of $20.16 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 2.78 and a beta of 1.39. The firm has a 50 day moving average of $85.63 and a 200 day moving average of $91.04. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.07. The business had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 EPS. As a group, equities research analysts anticipate that Lennar Corporation will post 5.52 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. Lennar’s dividend payout ratio (DPR) is 31.30%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LEN shares. Citigroup cut their price target on Lennar from $104.00 to $88.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Evercore boosted their target price on Lennar from $82.00 to $87.00 and gave the stock an “underperform” rating in a report on Monday, June 15th. Truist Financial cut their target price on Lennar from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, August 6th. Keefe, Bruyette & Woods reduced their price target on Lennar from $86.00 to $85.00 and set an “underperform” rating for the company in a report on Wednesday, June 17th. Finally, Bank of America lowered their price target on Lennar from $84.00 to $77.00 and set an “underperform” rating for the company in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $92.13.

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.