Elo Mutual Pension Insurance Co Purchases 2,964 Shares of Lennar Corporation $LEN

Elo Mutual Pension Insurance Co increased its position in Lennar Corporation (NYSE:LEN) by 14.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,049 shares of the construction company’s stock after purchasing an additional 2,964 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Lennar were worth $2,660,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LEN. Quadcap Wealth Management LLC bought a new stake in shares of Lennar during the 2nd quarter valued at $571,000. Insigneo Advisory Services LLC lifted its position in Lennar by 18.5% during the 2nd quarter. Insigneo Advisory Services LLC now owns 2,483 shares of the construction company’s stock valued at $275,000 after acquiring an additional 388 shares during the period. Longfellow Investment Management Co. LLC bought a new stake in Lennar during the second quarter worth about $441,000. Waterloo Capital L.P. grew its holdings in Lennar by 9.3% in the second quarter. Waterloo Capital L.P. now owns 8,063 shares of the construction company’s stock worth $892,000 after purchasing an additional 685 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Lennar by 11.9% during the second quarter. Prudential Financial Inc. now owns 147,681 shares of the construction company’s stock valued at $16,335,000 after purchasing an additional 15,660 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of analyst reports. Citigroup reissued an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. JMP Securities boosted their target price on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a report on Monday, September 22nd. Zacks Research cut Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 7th. Evercore ISI lowered their price target on Lennar from $118.00 to $114.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Lennar from $122.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $121.75.

Lennar Trading Up 0.2%

Shares of NYSE:LEN opened at $131.31 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $177.15. The company has a market cap of $33.49 billion, a P/E ratio of 12.98, a PEG ratio of 5.78 and a beta of 1.33. The stock’s fifty day moving average price is $123.87 and its 200-day moving average price is $119.99.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 18th. The construction company reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). The business had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.Lennar’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $3.90 EPS. Sell-side analysts expect that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Friday, October 10th were issued a $0.50 dividend. The ex-dividend date was Friday, October 10th. This represents a $2.00 annualized dividend and a yield of 1.5%. Lennar’s dividend payout ratio (DPR) is currently 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.