Bank Hapoalim BM Raises Stake in Lennar Corporation $LEN

Bank Hapoalim BM increased its stake in shares of Lennar Corporation (NYSE:LEN) by 8.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,020 shares of the construction company’s stock after purchasing an additional 150 shares during the period. Bank Hapoalim BM’s holdings in Lennar were worth $223,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Lennar in the 1st quarter worth about $30,000. NBC Securities Inc. purchased a new stake in Lennar during the 1st quarter valued at about $33,000. Disciplina Capital Management LLC boosted its holdings in 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 acquiring an additional 214 shares during the period. Oakworth Capital Inc. boosted its holdings in Lennar by 139.9% during the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock valued at $39,000 after acquiring an additional 200 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Lennar in the 1st quarter worth approximately $44,000. 81.10% of the stock is currently owned by institutional investors.

Lennar Price Performance

Shares of Lennar stock opened at $130.13 on Friday. The stock’s 50-day simple moving average is $128.71 and its 200-day simple moving average is $116.38. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $189.65. The company has a market capitalization of $33.70 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 5.74 and a beta of 1.37. 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) last issued its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The firm had revenue of $8.81 billion for the quarter, compared to analysts’ expectations of $9.01 billion. During the same period in the previous year, the firm posted $3.90 earnings per share. The business’s revenue was down 6.4% compared to the same quarter last year. As a group, analysts expect that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, October 10th. Lennar’s payout ratio is 19.76%.

Analyst Upgrades and Downgrades

LEN has been the subject of several research analyst reports. UBS Group increased their price objective on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. The Goldman Sachs Group raised their price objective on Lennar from $122.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Citigroup reissued an “outperform” rating on shares of Lennar in a report on Monday, September 22nd. Wells Fargo & Company lifted their target price on Lennar from $110.00 to $135.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 2nd. Finally, Bank of America lifted their price objective on Lennar from $115.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $123.75.

Lennar Company Profile

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.