Argonautica Private Wealth Management Inc. Trims Holdings in Lennar Corporation $LEN

Argonautica Private Wealth Management Inc. trimmed its position in Lennar Corporation (NYSE:LEN) by 12.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,404 shares of the construction company’s stock after selling 491 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in Lennar were worth $377,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LEN. Disciplina Capital Management LLC grew its holdings in Lennar by 179.8% during the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock worth $38,000 after acquiring an additional 214 shares during the period. Oakworth Capital Inc. grew its holdings in Lennar by 139.9% during the first quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock worth $39,000 after acquiring an additional 200 shares during the period. Mid American Wealth Advisory Group Inc. acquired a new stake in Lennar during the second quarter worth about $43,000. Wayfinding Financial LLC acquired a new stake in Lennar during the first quarter worth about $44,000. Finally, Valley National Advisers Inc. grew its holdings in Lennar by 34.7% during the first quarter. Valley National Advisers Inc. now owns 466 shares of the construction company’s stock worth $53,000 after acquiring an additional 120 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Performance

Shares of NYSE:LEN opened at $128.20 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The business’s 50 day moving average price is $129.78 and its 200-day moving average price is $116.95. The firm has a market capitalization of $32.69 billion, a PE ratio of 12.67, a P/E/G ratio of 5.86 and a beta of 1.37. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $180.12.

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 firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business’s revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.90 earnings per share. As a group, equities research analysts expect that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently commented on LEN. Evercore ISI dropped their target price on Lennar from $118.00 to $114.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. Zacks Research lowered Lennar from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. JMP Securities raised their price objective on Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a report on Monday, September 22nd. Wedbush reissued a “neutral” rating and issued a $130.00 price objective on shares of Lennar in a report on Monday, September 22nd. Finally, UBS Group raised their price objective on Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $121.75.

About Lennar

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.