Y Intercept Hong Kong Ltd Increases Position in Lennar Corporation $LEN

Y Intercept Hong Kong Ltd grew its holdings in Lennar Corporation (NYSE:LEN) by 142.2% during the third quarter, HoldingsChannel reports. The firm owned 30,261 shares of the construction company’s stock after acquiring an additional 17,768 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Lennar were worth $3,814,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in LEN. Concurrent Investment Advisors LLC increased its position in shares of Lennar by 73.9% during the third quarter. Concurrent Investment Advisors LLC now owns 10,702 shares of the construction company’s stock valued at $1,349,000 after acquiring an additional 4,548 shares during the last quarter. denkapparat Operations GmbH purchased a new position in shares of Lennar during the 2nd quarter worth approximately $408,000. Swiss National Bank increased its holdings in Lennar by 4.3% in the 2nd quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock valued at $77,745,000 after purchasing an additional 29,300 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new position in Lennar during the second quarter worth $441,000. Finally, Waverton Investment Management Ltd purchased a new position in shares of Lennar during the second quarter worth $1,051,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Price Performance

LEN stock opened at $111.94 on Monday. The stock has a market cap of $28.55 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.64 and a beta of 1.42. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $144.24. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $116.24 and a 200 day moving average price of $121.86.

Lennar (NYSE:LEN) last released its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). Lennar had a return on equity of 9.27% and a net margin of 6.08%.The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same period in the previous year, the business posted $4.03 EPS. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities research analysts anticipate 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 Thursday, February 19th. Investors of record on Wednesday, February 4th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, February 4th. Lennar’s dividend payout ratio (DPR) is currently 25.03%.

Analyst Ratings Changes

Several equities analysts have weighed in on LEN shares. Citigroup dropped their target price on Lennar from $133.00 to $113.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Argus raised shares of Lennar to a “strong-buy” rating in a research note on Friday, January 16th. Evercore ISI cut Lennar from an “in-line” rating to an “underperform” rating and reduced their price objective for the company from $114.00 to $92.00 in a research note on Thursday, December 18th. JPMorgan Chase & Co. decreased their price objective on Lennar from $115.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday, December 18th. Finally, Zacks Research lowered shares of Lennar from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lennar has a consensus rating of “Reduce” and a consensus price target of $106.38.

Lennar Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.