CW Advisors LLC Has $3.10 Million Stake in Lennar Corporation $LEN

CW Advisors LLC grew its holdings in shares of Lennar Corporation (NYSE:LEN) by 64.8% in the second quarter, HoldingsChannel.com reports. The fund owned 28,016 shares of the construction company’s stock after acquiring an additional 11,012 shares during the quarter. CW Advisors LLC’s holdings in Lennar were worth $3,099,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Van Hulzen Asset Management LLC boosted its holdings in shares of Lennar by 26.3% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 3,819 shares of the construction company’s stock worth $422,000 after buying an additional 796 shares in the last quarter. River Road Asset Management LLC lifted its position in shares of Lennar by 86.1% during the 2nd quarter. River Road Asset Management LLC now owns 443,477 shares of the construction company’s stock valued at $49,749,000 after acquiring an additional 205,234 shares during the period. Legacy Capital Wealth Partners LLC boosted its stake in Lennar by 7.5% during the second quarter. Legacy Capital Wealth Partners LLC now owns 2,663 shares of the construction company’s stock worth $295,000 after acquiring an additional 185 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Lennar by 24.1% in the second quarter. Mackenzie Financial Corp now owns 113,948 shares of the construction company’s stock worth $12,604,000 after purchasing an additional 22,144 shares during the period. Finally, Scotia Capital Inc. increased its stake in Lennar by 15.2% in the second quarter. Scotia Capital Inc. now owns 29,271 shares of the construction company’s stock valued at $3,238,000 after purchasing an additional 3,859 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Down 2.2%

LEN stock opened at $124.01 on Friday. The firm has a market capitalization of $31.63 billion, a PE ratio of 12.25, a P/E/G ratio of 5.25 and a beta of 1.38. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $169.00. The stock’s 50 day moving average is $124.39 and its 200-day moving average is $120.90.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 18th. The construction company reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). The company had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.90 earnings per share. Sell-side analysts expect that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Friday, October 10th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, October 10th. This represents a $2.00 annualized dividend and a yield of 1.6%. Lennar’s payout ratio is 19.76%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LEN. UBS Group raised their target price on Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Lennar in a research note on Wednesday, October 8th. BTIG Research started coverage on Lennar in a report on Tuesday, December 2nd. They set a “sell” rating and a $96.00 price objective for the company. JMP Securities increased their target price on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a report on Monday, September 22nd. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $115.00 price target (down previously from $118.00) on shares of Lennar in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Lennar currently has an average rating of “Hold” and a consensus price target of $121.54.

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.