Transcend Capital Advisors LLC Has $400,000 Position in Lennar Corporation $LEN

Transcend Capital Advisors LLC increased its holdings in shares of Lennar Corporation (NYSE:LEN) by 55.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,617 shares of the construction company’s stock after buying an additional 1,292 shares during the period. Transcend Capital Advisors LLC’s holdings in Lennar were worth $400,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted 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 worth $1,020,866,000 after buying an additional 2,777,567 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in Lennar during the 2nd quarter worth approximately $424,950,000. Brave Warrior Advisors LLC boosted its position in Lennar by 23.4% during the 1st quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock worth $251,323,000 after buying an additional 415,218 shares during the period. Eminence Capital LP boosted its position in Lennar by 130.8% during the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock worth $181,523,000 after buying an additional 896,264 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in Lennar by 20.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 736,490 shares of the construction company’s stock worth $84,534,000 after buying an additional 123,266 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on LEN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Lennar in a research report on Wednesday, October 8th. Wells Fargo & Company lowered their price target on shares of Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. Raymond James Financial lowered shares of Lennar from a “market perform” rating to an “underperform” rating in a report on Monday, September 22nd. Zacks Research lowered shares of Lennar from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. Finally, JMP Securities raised their price target on shares of Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a report on Monday, September 22nd. One 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $121.75.

Lennar Stock Performance

NYSE:LEN opened at $124.18 on Thursday. The company has a fifty day moving average of $129.26 and a 200-day moving average of $117.93. The firm has a market capitalization of $31.67 billion, a P/E ratio of 12.27, a P/E/G ratio of 5.97 and a beta of 1.37. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. 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 for the quarter, beating the consensus estimate of $2.14 by $0.15. The company had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. Lennar’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.90 EPS. As a group, sell-side analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were paid a $0.50 dividend. The ex-dividend date was Friday, October 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. Lennar’s 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.