Leonteq Securities AG Takes Position in Lennar Corporation $LEN

Leonteq Securities AG purchased a new stake in Lennar Corporation (NYSE:LEN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 15,572 shares of the construction company’s stock, valued at approximately $1,601,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Lazard Asset Management LLC boosted its holdings in shares of Lennar by 7.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after buying an additional 85 shares during the period. Zions Bancorporation National Association UT boosted its stake in Lennar by 8.3% during the 3rd quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock valued at $142,000 after purchasing an additional 86 shares during the period. RFG Advisory LLC boosted its stake in Lennar by 2.1% during the 3rd quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock valued at $536,000 after purchasing an additional 87 shares during the period. UMB Bank n.a. boosted its stake in Lennar by 6.2% during the 3rd quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock valued at $201,000 after purchasing an additional 93 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its stake in Lennar by 1.1% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 10,837 shares of the construction company’s stock valued at $1,389,000 after purchasing an additional 114 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Up 1.8%

LEN stock opened at $88.87 on Friday. Lennar Corporation has a 52 week low of $81.18 and a 52 week high of $144.24. The company has a market capitalization of $21.95 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 1.93 and a beta of 1.41. The firm’s 50-day moving average is $89.82 and its two-hundred day moving average is $106.59. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). Lennar had a return on equity of 7.80% and a net margin of 5.39%.The company had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the firm posted $2.14 earnings per share. The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. On average, analysts forecast that Lennar Corporation will post 5.87 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Wednesday, April 22nd. Lennar’s payout ratio is 28.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Evercore reduced their target price on shares of Lennar from $89.00 to $82.00 and set an “underperform” rating for the company in a research note on Monday, April 13th. Citigroup reduced their target price on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Zacks Research raised shares of Lennar from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Keefe, Bruyette & Woods reduced their target price on shares of Lennar from $105.00 to $97.00 and set a “market perform” rating for the company in a research note on Wednesday, April 1st. Finally, Truist Financial reduced their target price on shares of Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $99.87.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.