Lyell Wealth Management LP Reduces Position in Lennar Corporation $LEN

Lyell Wealth Management LP decreased its position in Lennar Corporation (NYSE:LEN) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 78,699 shares of the construction company’s stock after selling 8,563 shares during the period. Lyell Wealth Management LP’s holdings in Lennar were worth $8,090,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Lennar by 14.6% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock valued at $596,504,000 after purchasing an additional 603,004 shares during the period. Viking Global Investors LP boosted its holdings in shares of Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after purchasing an additional 1,172,068 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Lennar by 41.0% in the third quarter. California Public Employees Retirement System now owns 578,927 shares of the construction company’s stock valued at $72,968,000 after purchasing an additional 168,196 shares during the period. Caisse de depot et placement du Quebec boosted its holdings in shares of Lennar by 3.7% in the third quarter. Caisse de depot et placement du Quebec now owns 555,305 shares of the construction company’s stock valued at $69,991,000 after purchasing an additional 19,566 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Lennar by 19.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 542,190 shares of the construction company’s stock valued at $55,737,000 after purchasing an additional 88,707 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Key Lennar News

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Lennar reported Q2 adjusted EPS of $1.31, topping consensus of $1.23, which suggests earnings held up better than Wall Street expected. Article Title
• Positive Sentiment: The company continued returning capital, repurchasing 5 million shares for $447 million, and it ended the quarter with $1.8 billion in cash and no borrowings on its revolving credit facility. Article Title
• Neutral Sentiment: Deliveries rose 2% year over year to 20,519 homes, showing some operational resilience even as the housing market remains pressured. Article Title
• Negative Sentiment: Lennar also cut its full-year delivery outlook to roughly 82,000 to 83,000 homes, citing stubborn housing-market headwinds, high interest rates, and geopolitical uncertainty. Article Title
• Negative Sentiment: Revenue missed estimates at $7.9 billion versus about $8.10 billion, and new orders fell 4% year over year, underscoring softer demand. Article Title
• Negative Sentiment: Some investors also had to absorb earlier analyst caution, including a price-target cut from Bank of America to $84, reflecting continued concern about housing affordability and rates. Article Title

Wall Street Analyst Weigh In

LEN has been the subject of a number of research reports. Barclays lowered their price target on Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a report on Wednesday, April 8th. Evercore lowered their price target on Lennar from $89.00 to $82.00 and set an “underperform” rating for the company in a report on Monday, April 13th. Bank of America reduced their price objective on shares of Lennar from $88.00 to $84.00 in a research note on Thursday. Keefe, Bruyette & Woods downgraded shares of Lennar from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $97.00 to $86.00 in a research note on Tuesday. Finally, Wells Fargo & Company reduced their price objective on shares of Lennar from $100.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $97.27.

Lennar Stock Performance

Shares of NYSE:LEN opened at $94.95 on Friday. The company has a market capitalization of $23.45 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.99 and a beta of 1.39. Lennar Corporation has a 52 week low of $81.18 and a 52 week high of $144.24. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $89.28 and a 200 day moving average of $103.46.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The company had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $8.08 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. Lennar’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 earnings per share. On average, sell-side analysts predict that Lennar Corporation will post 5.87 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.1%. Lennar’s dividend payout ratio is presently 28.74%.

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.