Lennar Corporation (NYSE:LEN) Stake Increased by Community Bank N.A.

Community Bank N.A. increased its stake in shares of Lennar Corporation (NYSE:LEN) by 43.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,233 shares of the construction company’s stock after buying an additional 2,178 shares during the quarter. Community Bank N.A.’s holdings in Lennar were worth $830,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hurley Capital LLC acquired a new stake in Lennar during the fourth quarter valued at $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Lennar during the 4th quarter worth about $28,000. Ameriflex Group Inc. acquired a new stake in shares of Lennar during the 4th quarter valued at about $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Lennar in the 1st quarter valued at approximately $30,000. Finally, NBC Securities Inc. acquired a new position in Lennar in the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on LEN shares. UBS Group reduced their target price on shares of Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Bank of America reduced their price objective on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Wall Street Zen raised shares of Lennar from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Evercore ISI reiterated an “in-line” rating and set a $131.00 price target (down previously from $159.00) on shares of Lennar in a research note on Monday, March 24th. Finally, Barclays lowered their price objective on Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, March 24th. Fifteen equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $150.07.

Lennar Stock Down 4.4%

LEN opened at $104.65 on Wednesday. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $187.61. The business has a 50 day moving average of $107.89 and a 200-day moving average of $122.70. The stock has a market capitalization of $27.61 billion, a price-to-earnings ratio of 8.66, a P/E/G ratio of 2.96 and a beta of 1.34. The company has a current ratio of 3.42, a quick ratio of 0.68 and a debt-to-equity ratio of 0.10.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04). Lennar had a net margin of 9.20% and a return on equity of 12.32%. The company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.21 billion. During the same period last year, the company earned $3.45 earnings per share. Lennar’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were issued a $0.50 dividend. The ex-dividend date was Wednesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.91%. Lennar’s dividend payout ratio (DPR) is 16.54%.

Lennar 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.