Mission Wealth Management LP Purchases New Position in Lennar Corporation $LEN

Mission Wealth Management LP purchased a new stake in shares of Lennar Corporation (NYSE:LEN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,073 shares of the construction company’s stock, valued at approximately $340,000.

A number of other hedge funds also recently bought and sold shares of LEN. Brighton Jones LLC raised its stake in Lennar by 27.9% during the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock valued at $236,000 after purchasing an additional 377 shares in the last quarter. Strategic Blueprint LLC bought a new stake in shares of Lennar in the 1st quarter valued at approximately $291,000. Wayfinding Financial LLC bought a new stake in shares of Lennar in the 1st quarter valued at approximately $44,000. World Investment Advisors lifted its stake in shares of Lennar by 62.8% in the 1st quarter. World Investment Advisors now owns 2,721 shares of the construction company’s stock valued at $312,000 after purchasing an additional 1,050 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Lennar by 14.0% in the 1st quarter. Concurrent Investment Advisors LLC now owns 5,331 shares of the construction company’s stock valued at $612,000 after purchasing an additional 653 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 0.7%

LEN stock opened at $121.47 on Wednesday. The company has a market capitalization of $30.98 billion, a PE ratio of 12.00, a P/E/G ratio of 5.78 and a beta of 1.37. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $180.12. The firm’s 50-day moving average is $128.39 and its 200 day moving average is $118.53. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. The business had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.Lennar’s revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.90 EPS. On average, research analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently announced 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 of this dividend was Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. Lennar’s payout ratio is 19.76%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LEN shares. Royal Bank Of Canada raised their price objective on Lennar from $98.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, September 22nd. UBS Group raised their price objective on Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. JMP Securities raised their price objective on Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a research note on Monday, September 22nd. Wedbush reaffirmed a “neutral” rating and issued a $130.00 price objective on shares of Lennar in a research note on Monday, September 22nd. Finally, Evercore ISI lowered their price objective on Lennar from $118.00 to $114.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.