Freedom Day Solutions LLC Raises Stock Position in Lennar Corporation $LEN

Freedom Day Solutions LLC raised its stake in shares of Lennar Corporation (NYSE:LEN) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,185 shares of the construction company’s stock after purchasing an additional 541 shares during the quarter. Freedom Day Solutions LLC’s holdings in Lennar were worth $2,011,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LEN. The Manufacturers Life Insurance Company boosted its holdings in shares of Lennar by 45.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock valued at $1,020,866,000 after buying an additional 2,777,567 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Lennar during the 2nd quarter valued at $424,950,000. Brave Warrior Advisors LLC boosted its holdings in shares of Lennar by 23.4% during the 1st quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock valued at $251,323,000 after buying an additional 415,218 shares in the last quarter. Eminence Capital LP boosted its holdings in shares of Lennar by 130.8% during the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock valued at $181,523,000 after buying an additional 896,264 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Lennar by 20.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 736,490 shares of the construction company’s stock valued at $84,534,000 after buying an additional 123,266 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Price Performance

Shares of NYSE:LEN opened at $117.58 on Friday. The firm’s 50 day moving average price is $129.30 and its 200-day moving average price is $116.47. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $189.65. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $30.45 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 5.38 and a beta of 1.37.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm had revenue of $8.81 billion for the quarter, compared to analysts’ expectations of $9.01 billion. During the same quarter in the prior year, the business earned $3.90 EPS. The business’s quarterly revenue was down 6.4% on a year-over-year basis. Equities research analysts expect that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, October 10th. Lennar’s dividend payout ratio is 19.76%.

Analysts Set New Price Targets

LEN has been the topic of a number of research reports. Royal Bank Of Canada boosted their target price on shares of Lennar from $98.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, September 22nd. The Goldman Sachs Group boosted their target price on shares of Lennar from $122.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Barclays dropped their price target on shares of Lennar from $110.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 18th. Zelman & Associates cut shares of Lennar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 18th. Finally, Citigroup reiterated an “outperform” rating on shares of Lennar in a research note on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $123.42.

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.