SG Americas Securities LLC Increases Stock Holdings in Lennar Corporation $LEN

SG Americas Securities LLC increased its position in shares of Lennar Corporation (NYSE:LEN) by 361.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,635 shares of the construction company’s stock after purchasing an additional 60,822 shares during the period. SG Americas Securities LLC’s holdings in Lennar were worth $6,742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Viking Global Investors LP increased its holdings in shares of Lennar by 86.7% during the 2nd quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after buying an additional 1,172,068 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. grew its position in Lennar by 90.9% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company’s stock worth $201,835,000 after acquiring an additional 934,856 shares during the period. Freestone Grove Partners LP acquired a new stake in Lennar during the fourth quarter worth $95,941,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Lennar by 14.6% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after acquiring an additional 603,004 shares during the last quarter. Finally, Bank of Nova Scotia raised its position in Lennar by 1,303.1% in the fourth quarter. Bank of Nova Scotia now owns 490,105 shares of the construction company’s stock valued at $50,383,000 after purchasing an additional 455,174 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on LEN. Truist Financial lowered their price target on Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Argus reduced their price objective on shares of Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Bank of America lowered their target price on shares of Lennar from $84.00 to $77.00 and set an “underperform” rating for the company in a research note on Friday, June 12th. Keefe, Bruyette & Woods dropped their price target on shares of Lennar from $86.00 to $85.00 and set an “underperform” rating for the company in a research report on Wednesday, June 17th. Finally, Citigroup reduced their price target on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $95.00.

Lennar Trading Up 0.0%

NYSE LEN opened at $93.54 on Monday. Lennar Corporation has a 52 week low of $81.18 and a 52 week high of $144.24. The firm has a 50 day moving average of $89.78 and a two-hundred day moving average of $100.48. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $23.10 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 3.07 and a beta of 1.39.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The business had revenue of $7.94 billion for the quarter, compared to analyst estimates of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the business earned $1.81 EPS. As a group, research analysts expect that Lennar Corporation will post 5.58 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be paid a $0.50 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.1%. Lennar’s dividend payout ratio (DPR) is currently 31.30%.

About Lennar

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.