Migdal Insurance & Financial Holdings Ltd. Takes $25.44 Million Position in Lennar Corporation $LEN

Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Lennar Corporation (NYSE:LEN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 230,000 shares of the construction company’s stock, valued at approximately $25,440,000. Migdal Insurance & Financial Holdings Ltd. owned about 0.09% of Lennar at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Secured Retirement Advisors LLC acquired a new stake in shares of Lennar in the first quarter valued at approximately $926,000. Marks Group Wealth Management Inc grew its holdings in Lennar by 15.4% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,183 shares of the construction company’s stock valued at $251,000 after buying an additional 292 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its stake in shares of Lennar by 24.8% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 42,041 shares of the construction company’s stock worth $4,825,000 after acquiring an additional 8,357 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of Lennar by 77.7% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company’s stock worth $419,000 after acquiring an additional 1,596 shares during the period. Finally, Brown Advisory Inc. boosted its position in shares of Lennar by 5.4% during the 1st quarter. Brown Advisory Inc. now owns 6,965 shares of the construction company’s stock valued at $799,000 after acquiring an additional 354 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LEN. Evercore ISI reduced 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. JPMorgan Chase & Co. reduced their price target on shares of Lennar from $97.00 to $92.00 and set a “neutral” rating on the stock in a research report on Monday, September 22nd. Wedbush reiterated 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 reduced their target price on Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Finally, JMP Securities increased their price target on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a report on Monday, September 22nd. One research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Lennar presently has an average rating of “Hold” and a consensus price target of $121.75.

Lennar Trading Down 0.3%

LEN opened at $128.28 on Wednesday. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $180.12. 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 fifty day simple moving average of $129.38 and a 200-day simple moving average of $117.79. The firm has a market cap of $32.71 billion, a P/E ratio of 12.68, a P/E/G ratio of 5.99 and a beta of 1.37.

Lennar (NYSE:LEN) last posted its quarterly earnings data 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 return on equity of 11.09% and a net margin of 7.72%.The firm had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same quarter in the previous year, the business earned $3.90 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, equities analysts expect that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Friday, October 10th were issued a $0.50 dividend. The ex-dividend date was Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. Lennar’s payout ratio is 19.76%.

Lennar Profile

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.