Lennar Corporation (NYSE:LEN) Shares Acquired by TCTC Holdings LLC

TCTC Holdings LLC grew its stake in Lennar Corporation (NYSE:LEN) by 103.6% during the 1st quarter, Holdings Channel reports. The firm owned 910 shares of the construction company’s stock after purchasing an additional 463 shares during the quarter. TCTC Holdings LLC’s holdings in Lennar were worth $104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Castlekeep Investment Advisors LLC purchased a new position in Lennar during the fourth quarter worth about $218,533,000. Wellington Management Group LLP raised its stake in Lennar by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock worth $441,769,000 after purchasing an additional 515,378 shares during the period. ANTIPODES PARTNERS Ltd purchased a new position in Lennar during the first quarter worth about $41,788,000. AustralianSuper Pty Ltd purchased a new position in Lennar during the first quarter worth about $37,055,000. Finally, D1 Capital Partners L.P. raised its stake in Lennar by 67.3% during the fourth quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company’s stock worth $88,116,000 after purchasing an additional 270,433 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Trading Down 0.1%

NYSE LEN opened at $115.97 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $193.80. The stock has a market capitalization of $30.04 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 4.93 and a beta of 1.33. The firm has a 50 day moving average of $110.14 and a two-hundred day moving average of $115.42.

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

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Thursday, July 3rd. Lennar’s payout ratio is 16.54%.

Analyst Ratings Changes

A number of research firms have recently issued reports on LEN. JMP Securities reduced their price target on shares of Lennar from $150.00 to $130.00 and set a “market outperform” rating on the stock in a research note on Friday, June 20th. Royal Bank Of Canada reduced their price target on shares of Lennar from $122.00 to $98.00 and set a “sector perform” rating on the stock in a research note on Wednesday, June 18th. Wall Street Zen downgraded shares of Lennar from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. Evercore ISI reduced their price target on shares of Lennar from $131.00 to $114.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 18th. Finally, UBS Group reduced their price target on shares of Lennar from $164.00 to $146.00 and set a “buy” rating on the stock in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lennar has an average rating of “Hold” and an average target price of $128.85.

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.