Lyell Wealth Management LP Sells 8,563 Shares of Lennar Corporation $LEN

Lyell Wealth Management LP cut its holdings in shares of Lennar Corporation (NYSE:LEN) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,699 shares of the construction company’s stock after selling 8,563 shares during the quarter. Lyell Wealth Management LP’s holdings in Lennar were worth $8,090,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cibc World Market Inc. raised its holdings in Lennar by 993.0% during the third quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock valued at $16,321,000 after acquiring an additional 117,640 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Lennar by 5.9% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock valued at $58,738,000 after acquiring an additional 26,117 shares during the period. Boothbay Fund Management LLC raised its holdings in Lennar by 201.1% during the third quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock valued at $3,025,000 after acquiring an additional 16,031 shares during the period. Tounjian Advisory Partners LLC bought a new stake in shares of Lennar in the fourth quarter worth about $2,599,000. Finally, Coronation Fund Managers Ltd. bought a new stake in shares of Lennar in the third quarter worth about $14,160,000. 81.10% of the stock is owned by institutional investors.

Key Lennar News

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Lennar reported Q2 adjusted EPS of $1.31, topping consensus of $1.23, which suggests earnings held up better than Wall Street expected. Article Title
• Positive Sentiment: The company continued returning capital, repurchasing 5 million shares for $447 million, and it ended the quarter with $1.8 billion in cash and no borrowings on its revolving credit facility. Article Title
• Neutral Sentiment: Deliveries rose 2% year over year to 20,519 homes, showing some operational resilience even as the housing market remains pressured. Article Title
• Negative Sentiment: Lennar also cut its full-year delivery outlook to roughly 82,000 to 83,000 homes, citing stubborn housing-market headwinds, high interest rates, and geopolitical uncertainty. Article Title
• Negative Sentiment: Revenue missed estimates at $7.9 billion versus about $8.10 billion, and new orders fell 4% year over year, underscoring softer demand. Article Title
• Negative Sentiment: Some investors also had to absorb earlier analyst caution, including a price-target cut from Bank of America to $84, reflecting continued concern about housing affordability and rates. Article Title

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Lennar from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Citigroup reduced their target price on Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. BTIG Research set a $73.00 target price on Lennar in a report on Monday. Bank of America reduced their target price on Lennar from $88.00 to $84.00 in a report on Thursday. Finally, Keefe, Bruyette & Woods cut Lennar from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $97.00 to $86.00 in a report on Tuesday. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and nine have issued a Sell rating to the company’s stock. According to data from MarketBeat, Lennar has a consensus rating of “Reduce” and a consensus target price of $97.27.

Lennar Stock Up 5.7%

Shares of NYSE:LEN opened at $94.95 on Friday. Lennar Corporation has a 1 year low of $81.18 and a 1 year high of $144.24. The business has a 50 day simple moving average of $89.28 and a two-hundred day simple moving average of $103.46. The firm has a market capitalization of $23.45 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 1.99 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.07. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business had revenue of $7.94 billion during the quarter, compared to analyst estimates of $8.08 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities analysts predict that Lennar Corporation will post 5.87 EPS for the current year.

Lennar Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, April 22nd. Lennar’s payout ratio is 28.74%.

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.