Omnia Family Wealth LLC Sells 107 Shares of Lennar Corporation $LEN

Omnia Family Wealth LLC lowered its holdings in shares of Lennar Corporation (NYSE:LEN) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,310 shares of the construction company’s stock after selling 107 shares during the period. Omnia Family Wealth LLC’s holdings in Lennar were worth $698,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew 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 purchasing an additional 2,777,567 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Lennar in the 2nd quarter worth $424,950,000. Brave Warrior Advisors LLC grew its holdings in Lennar by 23.4% in the 1st quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock worth $251,323,000 after acquiring an additional 415,218 shares during the last quarter. Eminence Capital LP grew its holdings in Lennar by 130.8% in the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock worth $181,523,000 after acquiring an additional 896,264 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Lennar by 20.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 736,490 shares of the construction company’s stock worth $84,534,000 after acquiring an additional 123,266 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LEN shares. Zelman & Associates lowered shares of Lennar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 18th. JMP Securities lifted their target price on shares of Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a research note on Monday, September 22nd. Evercore ISI cut their target price on shares of Lennar from $118.00 to $114.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lennar in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of Lennar from $97.00 to $92.00 and set a “neutral” rating on the stock in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $121.75.

Lennar Stock Up 0.2%

Shares of Lennar stock opened at $122.52 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. The stock has a market capitalization of $31.24 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 5.69 and a beta of 1.37. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $189.65. The company has a 50-day simple moving average of $129.44 and a two-hundred day simple moving average of $116.57.

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, topping the consensus estimate of $2.14 by $0.15. The business 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 business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.90 earnings per share. On average, analysts anticipate that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

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

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.