United Services Automobile Association Invests $667,000 in Lennar Corporation $LEN

United Services Automobile Association acquired a new position in Lennar Corporation (NYSE:LEN) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,857 shares of the construction company’s stock, valued at approximately $667,000.

Several other institutional investors have also recently made changes to their positions in LEN. The Manufacturers Life Insurance Company raised its stake in shares of Lennar by 45.4% in the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock worth $1,020,866,000 after buying an additional 2,777,567 shares during the period. Eminence Capital LP raised its stake in shares of Lennar by 130.8% in the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock worth $181,523,000 after buying an additional 896,264 shares during the period. Brave Warrior Advisors LLC raised its stake in shares of Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock worth $251,323,000 after buying an additional 415,218 shares during the period. ANTIPODES PARTNERS Ltd bought a new stake in Lennar during the 1st quarter valued at approximately $41,788,000. Finally, Ceredex Value Advisors LLC bought a new stake in Lennar during the 1st quarter valued at approximately $38,125,000. Institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

LEN has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on Lennar from $110.00 to $135.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 2nd. Zelman & Associates downgraded Lennar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 18th. Keefe, Bruyette & Woods decreased their target price on Lennar from $128.00 to $114.00 and set a “market perform” rating on the stock in a research note on Friday, June 20th. Royal Bank Of Canada decreased their target price on Lennar from $122.00 to $98.00 and set a “sector perform” rating on the stock in a research note on Wednesday, June 18th. Finally, JMP Securities decreased their target price on Lennar from $150.00 to $130.00 and set a “market outperform” rating on the stock in a research note on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, Lennar has an average rating of “Hold” and an average price target of $130.77.

Lennar Stock Performance

NYSE:LEN opened at $137.50 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $193.80. The stock’s 50 day simple moving average is $122.51 and its two-hundred day simple moving average is $115.22. The company has a market cap of $35.61 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 6.05 and a beta of 1.33.

Lennar (NYSE:LEN) last released its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%.The firm had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.21 billion. During the same period in the previous year, the firm earned $3.45 EPS. The business’s revenue was down 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. Lennar’s payout ratio is currently 16.54%.

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.