Saudi Central Bank Boosts Stake in Lennar Corporation $LEN

Saudi Central Bank boosted its position in shares of Lennar Corporation (NYSE:LEN) by 89.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,314 shares of the construction company’s stock after buying an additional 6,748 shares during the period. Saudi Central Bank’s holdings in Lennar were worth $1,295,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Phillip James Consulting Co. purchased a new position in shares of Lennar in the first quarter valued at $30,000. DV Equities LLC purchased a new stake in Lennar during the fourth quarter valued at $31,000. Global Assets Advisory LLC bought a new position in Lennar during the first quarter valued at $39,000. Quarry LP purchased a new position in shares of Lennar in the 4th quarter worth $41,000. Finally, IFC & Insurance Marketing Inc. bought a new stake in shares of Lennar in the 4th quarter worth about $45,000. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Down 3.6%

LEN stock opened at $80.56 on Wednesday. Lennar Corporation has a 12 month low of $79.82 and a 12 month high of $141.84. The firm’s 50-day moving average is $85.29 and its 200 day moving average is $90.27. The company has a market capitalization of $19.41 billion, a PE ratio of 12.61, a P/E/G ratio of 2.78 and a beta of 1.39. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. The firm had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 earnings per share. On average, research analysts anticipate that Lennar Corporation will post 5.52 EPS for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. Lennar’s dividend payout ratio is 31.30%.

Analyst Ratings Changes

Several research analysts recently commented on LEN shares. The Goldman Sachs Group reiterated a “neutral” rating on shares of Lennar in a research report on Friday, June 5th. Barclays dropped their target price on Lennar from $80.00 to $79.00 and set an “underweight” rating for the company in a report on Monday, June 15th. Truist Financial decreased their price target on Lennar from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Thursday, August 6th. UBS Group lowered their price target on Lennar from $107.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, June 16th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Lennar in a research report on Thursday, June 11th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $92.13.

Lennar 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.