Warther Private Wealth LLC Trims Stock Position in Lennar Corporation $LEN

Warther Private Wealth LLC lowered its holdings in shares of Lennar Corporation (NYSE:LEN) by 94.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,605 shares of the construction company’s stock after selling 109,854 shares during the quarter. Warther Private Wealth LLC’s holdings in Lennar were worth $731,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Freedom Investment Management Inc. increased its position in shares of Lennar by 2.0% during the 2nd quarter. Freedom Investment Management Inc. now owns 9,332 shares of the construction company’s stock valued at $1,032,000 after purchasing an additional 181 shares during the last quarter. Pacific Heights Asset Management LLC grew its holdings in Lennar by 5.3% during the 2nd quarter. Pacific Heights Asset Management LLC now owns 140,000 shares of the construction company’s stock valued at $15,485,000 after buying an additional 7,000 shares in the last quarter. Denali Advisors LLC purchased a new position in Lennar during the 2nd quarter valued at approximately $300,000. FNY Investment Advisers LLC purchased a new position in Lennar during the 2nd quarter valued at approximately $33,000. Finally, Beech Hill Advisors Inc. purchased a new position in Lennar during the 2nd quarter valued at approximately $1,443,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Shares of LEN stock opened at $127.03 on Thursday. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $180.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. The firm has a market capitalization of $32.40 billion, a P/E ratio of 12.55, a P/E/G ratio of 5.97 and a beta of 1.37. The stock has a 50 day moving average price of $129.70 and a 200 day moving average price of $117.02.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. The business had revenue of $8.81 billion during 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%.Lennar’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 EPS. As a group, sell-side analysts predict that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

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

Analysts Set New Price Targets

LEN has been the subject of a number of recent research reports. Wells Fargo & Company dropped their target price on Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. JMP Securities lifted 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. UBS Group lifted their target price on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. JPMorgan Chase & Co. dropped their target price on Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, September 22nd. Finally, Raymond James Financial cut Lennar from a “market perform” rating to an “underperform” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Lennar has an average rating of “Hold” and an average price target of $121.75.

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.