Whalen Wealth Management Inc. Buys New Position in Lennar Corporation $LEN

Whalen Wealth Management Inc. bought a new stake in shares of Lennar Corporation (NYSE:LEN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,338 shares of the construction company’s stock, valued at approximately $1,033,000.

Several other hedge funds also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its position in 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 purchased a new stake in Lennar during the 2nd quarter valued at about $424,950,000. Brave Warrior Advisors LLC increased its holdings in shares of Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock valued at $251,323,000 after purchasing an additional 415,218 shares during the period. Eminence Capital LP increased its holdings in shares of Lennar by 130.8% in the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock valued at $181,523,000 after purchasing an additional 896,264 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Lennar by 20.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 736,490 shares of the construction company’s stock valued at $84,534,000 after purchasing an additional 123,266 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LEN. The Goldman Sachs Group increased their price objective on Lennar from $122.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Lennar in a report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on Lennar from $135.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, October 10th. Royal Bank Of Canada increased their price objective on Lennar from $98.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, September 22nd. Finally, Evercore ISI cut their price objective on Lennar from $118.00 to $114.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $121.75.

Lennar Stock Down 0.3%

Shares of 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 company has a market capitalization of $32.71 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 5.99 and a beta of 1.37. The stock’s 50-day moving average price is $129.38 and its 200-day moving average price is $117.79.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, topping 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 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 prior year, the business earned $3.90 earnings per share. The company’s revenue was down 6.4% compared to the same quarter last year. On average, sell-side analysts predict that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

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