New York Life Investment Management LLC Increases Position in Lennar Corporation $LEN

New York Life Investment Management LLC raised its holdings in shares of Lennar Corporation (NYSE:LEN) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,617 shares of the construction company’s stock after buying an additional 350 shares during the period. New York Life Investment Management LLC’s holdings in Lennar were worth $3,497,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in shares of Lennar during the second quarter valued at approximately $33,000. Disciplina Capital Management LLC raised its stake in shares of Lennar by 179.8% during the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock valued at $38,000 after acquiring an additional 214 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Lennar during the first quarter valued at approximately $44,000. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Lennar during the second quarter valued at approximately $43,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Lennar during the first quarter valued at approximately $66,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LEN. Wells Fargo & Company decreased their price target on shares of Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, October 10th. Wedbush reaffirmed a “neutral” rating and set a $130.00 price target on shares of Lennar in a research note on Monday, September 22nd. Citigroup reaffirmed an “outperform” rating on shares of Lennar in a research note on Monday, September 22nd. Raymond James Financial downgraded shares of Lennar from a “market perform” rating to an “underperform” rating in a research note on Monday, September 22nd. Finally, Evercore ISI reduced their price objective on shares of Lennar from $118.00 to $114.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $121.75.

Lennar Stock Performance

Shares of NYSE:LEN opened at $123.99 on Friday. The company has a market capitalization of $31.62 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 5.78 and a beta of 1.37. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $180.12. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $129.16 and a 200 day moving average of $117.97.

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

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. Lennar’s dividend payout ratio is presently 19.76%.

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.