Mint Tower Capital Management B.V. Buys New Stake in Lennar Corporation $LEN

Mint Tower Capital Management B.V. 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 and Exchange Commission (SEC). The institutional investor purchased 4,748 shares of the construction company’s stock, valued at approximately $525,000.

A number of other institutional investors have also modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. lifted its stake in Lennar by 1.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,719 shares of the construction company’s stock worth $886,000 after acquiring an additional 89 shares in the last quarter. NorthRock Partners LLC lifted its position in shares of Lennar by 1.4% during the first quarter. NorthRock Partners LLC now owns 6,509 shares of the construction company’s stock worth $747,000 after purchasing an additional 93 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Lennar by 2.3% in the first quarter. EP Wealth Advisors LLC now owns 4,782 shares of the construction company’s stock valued at $549,000 after purchasing an additional 107 shares during the period. Brighton Jones LLC grew its holdings in shares of Lennar by 6.1% in the second quarter. Brighton Jones LLC now owns 2,049 shares of the construction company’s stock valued at $227,000 after purchasing an additional 118 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Lennar by 3.4% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,708 shares of the construction company’s stock worth $426,000 after buying an additional 121 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LEN has been the subject of several research reports. Wells Fargo & Company dropped their price target on shares of Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, October 10th. Bank of America lowered their target price on Lennar from $133.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, October 10th. The Goldman Sachs Group lifted their price objective on Lennar from $122.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Wall Street Zen upgraded shares of Lennar from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, UBS Group lifted their price target on shares of Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lennar has a consensus rating of “Hold” and a consensus target price of $121.75.

Lennar Stock Performance

Shares of Lennar stock opened at $120.93 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. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $180.12. The firm’s 50 day moving average is $126.36 and its two-hundred day moving average is $119.27. The firm has a market capitalization of $30.84 billion, a P/E ratio of 11.95, a P/E/G ratio of 5.78 and a beta of 1.33.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 18th. The construction company reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.14). Lennar had a net margin of 7.72% and a return on equity of 11.09%. The company had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. During the same quarter in the previous year, the company posted $3.90 EPS. The company’s quarterly revenue was down 6.4% on a year-over-year basis. Research analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders 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 dividend yield of 1.7%. Lennar’s payout ratio is 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.