Lakewood Asset Management LLC Sells 626 Shares of Lennar Corporation $LEN

Lakewood Asset Management LLC lessened its holdings in Lennar Corporation (NYSE:LEN) by 5.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,826 shares of the construction company’s stock after selling 626 shares during the period. Lakewood Asset Management LLC’s holdings in Lennar were worth $1,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Lennar in the 1st quarter valued at $30,000. NBC Securities Inc. acquired a new position in Lennar in the 1st quarter valued at $33,000. Disciplina Capital Management LLC grew its holdings in Lennar by 179.8% in the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock valued at $38,000 after buying an additional 214 shares in the last quarter. Oakworth Capital Inc. boosted its stake in Lennar by 139.9% in the first quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock valued at $39,000 after buying an additional 200 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Lennar in the first quarter valued at about $44,000. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of Lennar stock opened at $126.08 on Friday. The firm has a market capitalization of $32.66 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 5.64 and a beta of 1.33. The business’s fifty day simple moving average is $127.39 and its 200 day simple moving average is $116.02. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $189.65.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.15. The firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business’s revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.90 earnings per share. As a group, analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.6%. Lennar’s payout ratio is 19.76%.

Wall Street Analyst Weigh In

LEN has been the topic of several research analyst reports. Wall Street Zen lowered Lennar from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. Zacks Research upgraded Lennar from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Raymond James Financial downgraded Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. Keefe, Bruyette & Woods dropped their target price on Lennar from $128.00 to $114.00 and set a “market perform” rating for the company in a research report on Friday, June 20th. Finally, JMP Securities raised their target price on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $123.75.

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.