Deltec Asset Management LLC Acquires Shares of 13,617 Lennar Corporation $LEN

Deltec Asset Management LLC bought a new position in Lennar Corporation (NYSE:LEN) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 13,617 shares of the construction company’s stock, valued at approximately $1,506,000.

Other hedge funds also recently added to or reduced their stakes in the company. Generali Investments CEE investicni spolecnost a.s. increased its holdings in shares of Lennar by 27.3% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 7,000 shares of the construction company’s stock valued at $774,000 after purchasing an additional 1,500 shares during the period. Truist Financial Corp lifted its position in Lennar by 130.6% during the second quarter. Truist Financial Corp now owns 214,314 shares of the construction company’s stock worth $23,705,000 after buying an additional 121,390 shares in the last quarter. HB Wealth Management LLC increased its stake in Lennar by 24.1% during the second quarter. HB Wealth Management LLC now owns 6,898 shares of the construction company’s stock worth $763,000 after acquiring an additional 1,339 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Lennar by 72.0% in the second quarter. Janney Montgomery Scott LLC now owns 159,619 shares of the construction company’s stock valued at $17,656,000 after buying an additional 66,844 shares in the last quarter. Finally, GC Wealth Management RIA LLC acquired a new position in Lennar during the 2nd quarter worth $447,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Down 1.3%

NYSE:LEN opened at $126.07 on Wednesday. The business’s 50-day moving average is $127.91 and its two-hundred day moving average is $116.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The firm has a market capitalization of $32.65 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 5.71 and a beta of 1.33. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $189.65.

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

Lennar Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently commented on LEN. Citigroup reissued an “outperform” rating on shares of Lennar in a research note on Monday, September 22nd. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. JMP Securities upped their price objective on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Monday, September 22nd. UBS Group upped their price objective on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Finally, Zelman & Associates downgraded Lennar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Lennar has an average rating of “Hold” and an average price target 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.