Chicago Partners Investment Group LLC Makes New Investment in Lennar Corporation $LEN

Chicago Partners Investment Group LLC purchased a new position in Lennar Corporation (NYSE:LEN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,414 shares of the construction company’s stock, valued at approximately $283,000.

Several other large investors also recently modified their holdings of the business. Palmer Knight Co bought a new stake in shares of Lennar in the second quarter worth about $5,565,000. Clearview Wealth Advisors LLC bought a new stake in shares of Lennar in the second quarter worth about $346,000. Turtle Creek Wealth Advisors LLC increased its holdings in shares of Lennar by 8.6% in the second quarter. Turtle Creek Wealth Advisors LLC now owns 45,668 shares of the construction company’s stock worth $5,051,000 after acquiring an additional 3,627 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Lennar by 2.2% in the second quarter. Allianz Asset Management GmbH now owns 89,420 shares of the construction company’s stock worth $9,891,000 after acquiring an additional 1,949 shares in the last quarter. Finally, Mutual Advisors LLC bought a new position in shares of Lennar during the second quarter worth about $267,000. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Raymond James Financial downgraded Lennar from a “market perform” rating to an “underperform” rating in a report on Monday, September 22nd. Royal Bank Of Canada increased their price objective on Lennar from $98.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, September 22nd. Wedbush reiterated a “neutral” rating and set a $130.00 price objective on shares of Lennar in a report on Monday, September 22nd. JPMorgan Chase & Co. decreased their price objective on Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, September 22nd. Finally, JMP Securities raised their price target on Lennar from $130.00 to $140.00 and gave the company 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 assigned a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $121.75.

Lennar Stock Up 0.3%

LEN stock opened at $127.69 on Friday. 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 business has a 50 day moving average price of $129.55 and a two-hundred day moving average price of $117.33. The company has a market cap of $32.56 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 5.93 and a beta of 1.37. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $180.12.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. During the same period last year, the firm posted $3.90 earnings per share. The business’s revenue was down 6.4% on a year-over-year basis. Analysts anticipate that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

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 given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Lennar’s dividend payout ratio (DPR) is presently 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.