Allstate Corp Has $1.52 Million Position in Lennar Corporation $LEN

Allstate Corp lifted its stake in Lennar Corporation (NYSE:LEN) by 76.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,824 shares of the construction company’s stock after buying an additional 6,415 shares during the period. Allstate Corp’s holdings in Lennar were worth $1,524,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Guerra Advisors Inc bought a new position in Lennar during the third quarter worth about $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Lennar during the third quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Lennar during the third quarter worth approximately $26,000. High Point Wealth Management LLC acquired a new stake in shares of Lennar during the fourth quarter worth approximately $31,000. Finally, Washington Trust Advisors Inc. increased its holdings in shares of Lennar by 102.7% during the third quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after buying an additional 188 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

LEN opened at $89.95 on Friday. The company has a fifty day moving average price of $89.14 and a two-hundred day moving average price of $105.38. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77. Lennar Corporation has a 52 week low of $81.18 and a 52 week high of $144.24. The firm has a market capitalization of $22.22 billion, a PE ratio of 12.92, a P/E/G ratio of 1.98 and a beta of 1.41.

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

Lennar Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a yield of 2.2%. Lennar’s payout ratio is 28.74%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LEN. Zacks Research raised shares of Lennar from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. Truist Financial dropped their price objective on shares of Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Wells Fargo & Company dropped their price objective on shares of Lennar from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Weiss Ratings lowered shares of Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 16th. Finally, Seaport Research Partners reaffirmed a “sell” rating and set a $74.00 price objective (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and eight have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $99.87.

Lennar Company Profile

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.