Lennar Corporation $LEN Shares Sold by Eminence Capital LP

by · The Markets Daily

Eminence Capital LP trimmed its position in Lennar Corporation (NYSE:LEN – Free Report) by 7.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,467,819 shares of the construction company’s stock after selling 113,670 shares during the quarter. Lennar makes up approximately 2.0% of Eminence Capital LP’s holdings, making the stock its 22nd largest position. Eminence Capital LP owned 0.57% of Lennar worth $162,355,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in shares of Lennar during the second quarter worth $33,000. Disciplina Capital Management LLC grew its position in shares of Lennar by 179.8% during the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock valued at $38,000 after buying an additional 214 shares during the last quarter. Mid American Wealth Advisory Group Inc. bought a new position in Lennar in the second quarter worth about $43,000. Cary Street Partners Financial LLC acquired a new position in Lennar in the second quarter valued at approximately $47,000. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Lennar by 190.9% during the second quarter. SBI Securities Co. Ltd. now owns 573 shares of the construction company’s stock valued at $63,000 after purchasing an additional 376 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LEN. Weiss Ratings reissued a “hold (c)” rating on shares of Lennar in a report on Wednesday, October 8th. Wall Street Zen cut Lennar from a “hold” rating to a “sell” rating in a research note on Monday, December 8th. UBS Group upped their price target on shares of Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Barclays downgraded shares of Lennar from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $95.00 to $98.00 in a research report on Monday. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $115.00 target price (down previously from $118.00) on shares of Lennar in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $121.77.

Check Out Our Latest Report on Lennar

Lennar Stock Performance

Shares of LEN opened at $119.31 on Friday. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $156.76. The firm has a market capitalization of $30.43 billion, a PE ratio of 11.79, a P/E/G ratio of 4.99 and a beta of 1.38. The firm has a 50-day moving average price of $123.50 and a 200 day moving average price of $121.28. 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 (NYSE:LEN – Get Free Report) last issued its quarterly earnings results on Thursday, September 18th. The construction company reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). Lennar had a return on equity of 11.09% and a net margin of 7.72%.The company had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. During the same period in the prior year, the company posted $3.90 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. On average, sell-side analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, October 10th. Lennar’s payout ratio is currently 19.76%.

About Lennar

(Free Report)

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.

See Also