Chevy Chase Trust Holdings LLC Increases Stake in Lennar Corporation $LEN

Chevy Chase Trust Holdings LLC increased its holdings in shares of Lennar Corporation (NYSE:LEN) by 0.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,643 shares of the construction company’s stock after buying an additional 171 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Lennar were worth $13,566,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Disciplina Capital Management LLC increased its stake in Lennar by 179.8% during the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock worth $38,000 after buying an additional 214 shares during the period. Oakworth Capital Inc. increased its stake in Lennar by 139.9% during the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock worth $39,000 after buying an additional 200 shares during the period. Wayfinding Financial LLC purchased a new stake in Lennar during the 1st quarter worth approximately $44,000. Valley National Advisers Inc. increased its stake in Lennar by 34.7% during the 1st quarter. Valley National Advisers Inc. now owns 466 shares of the construction company’s stock worth $53,000 after buying an additional 120 shares during the period. Finally, Horizon Financial Services LLC purchased a new stake in Lennar during the 1st quarter worth approximately $66,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Trading Up 2.4%

Shares of Lennar stock opened at $125.78 on Monday. The company has a fifty day simple moving average of $129.60 and a 200-day simple moving average of $116.77. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $189.65. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. The stock has a market cap of $32.08 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 5.85 and a beta of 1.37.

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. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The business had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. During the same quarter in the prior year, the business posted $3.90 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on LEN. Raymond James Financial downgraded shares of Lennar from a “market perform” rating to an “underperform” rating in a research note on Monday, September 22nd. Zacks Research downgraded shares of Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. Wedbush reissued a “neutral” rating and issued a $130.00 price objective on shares of Lennar in a research report on Monday, September 22nd. Bank of America dropped their price objective on shares of Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Finally, UBS Group increased their price objective on shares of Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Lennar has a consensus rating of “Hold” and a consensus price target of $121.75.

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.