Mint Tower Capital Management B.V. Makes New $525,000 Investment in Lennar Corporation $LEN

Mint Tower Capital Management B.V. acquired a new stake in Lennar Corporation (NYSE:LEN) during the second quarter, HoldingsChannel reports. The firm acquired 4,748 shares of the construction company’s stock, valued at approximately $525,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after acquiring an additional 377 shares during the period. AustralianSuper Pty Ltd acquired a new stake in shares of Lennar during the first quarter worth $37,055,000. Cassaday & Co Wealth Management LLC grew its position in Lennar by 100.0% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 3,000 shares of the construction company’s stock valued at $344,000 after buying an additional 1,500 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Lennar by 1.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 56,698 shares of the construction company’s stock valued at $6,508,000 after buying an additional 589 shares during the period. Finally, Crestwood Advisors Group LLC lifted its stake in shares of Lennar by 2.3% in the 1st quarter. Crestwood Advisors Group LLC now owns 9,923 shares of the construction company’s stock worth $1,139,000 after acquiring an additional 227 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Shares of NYSE:LEN opened at $120.93 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. The business’s fifty day moving average price is $126.36 and its two-hundred day moving average price is $119.27. The stock has a market cap of $30.84 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 5.78 and a beta of 1.33. Lennar Corporation has a one year low of $98.42 and a one year high of $180.12.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 18th. The construction company reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.14). The company had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.90 earnings per share. On average, analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.7%. Lennar’s payout ratio is 19.76%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LEN shares. JPMorgan Chase & Co. dropped their price target on shares of Lennar from $97.00 to $92.00 and set a “neutral” rating on the stock in a research note on Monday, September 22nd. Raymond James Financial cut shares of Lennar from a “market perform” rating to an “underperform” rating in a research note on Monday, September 22nd. JMP Securities upped their target price on shares of Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Monday, September 22nd. Wall Street Zen upgraded shares of Lennar from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, UBS Group upped their price target on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus 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.