Lyell Wealth Management LP Has $9.31 Million Stock Position in Lennar Corporation $LEN

Lyell Wealth Management LP increased its stake in Lennar Corporation (NYSE:LEN) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,184 shares of the construction company’s stock after buying an additional 899 shares during the quarter. Lyell Wealth Management LP’s holdings in Lennar were worth $9,312,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Unison Advisors LLC raised its position in Lennar by 0.5% during the second quarter. Unison Advisors LLC now owns 37,343 shares of the construction company’s stock worth $4,131,000 after acquiring an additional 173 shares in the last quarter. Cidel Asset Management Inc. grew its position in shares of Lennar by 15.9% in the 2nd quarter. Cidel Asset Management Inc. now owns 2,707 shares of the construction company’s stock valued at $299,000 after acquiring an additional 372 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of Lennar during the 2nd quarter worth about $283,000. Palmer Knight Co bought a new stake in shares of Lennar in the 2nd quarter valued at about $5,565,000. Finally, Clearview Wealth Advisors LLC acquired a new stake in Lennar in the 2nd quarter valued at about $346,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Up 2.4%

LEN stock opened at $125.78 on Monday. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $189.65. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The stock has a market capitalization of $32.08 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 5.85 and a beta of 1.37. The business’s fifty day moving average price is $129.60 and its two-hundred day moving average price is $116.77.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same period in the prior year, the company posted $3.90 earnings per share. Lennar’s revenue was down 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, October 10th. Lennar’s payout ratio is 19.76%.

Analyst Ratings Changes

A number of equities analysts have weighed in on LEN shares. UBS Group boosted their price target on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Citigroup reissued an “outperform” rating on shares of Lennar in a report on Monday, September 22nd. Raymond James Financial downgraded Lennar from a “market perform” rating to an “underperform” rating in a report on Monday, September 22nd. Wells Fargo & Company decreased their price objective on shares of Lennar from $135.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, October 10th. Finally, Royal Bank Of Canada increased their price objective on shares of Lennar from $98.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $121.75.

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.