Myriad Asset Management Advisors LLC Takes Position in Lennar Corporation $LEN

Myriad Asset Management Advisors LLC purchased a new stake in shares of Lennar Corporation (NYSE:LEN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 14,696 shares of the construction company’s stock, valued at approximately $1,511,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LEN. Viking Global Investors LP increased its stake in shares of Lennar by 86.7% in the 2nd quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after purchasing an additional 1,172,068 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Lennar by 14.6% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after purchasing an additional 603,004 shares in the last quarter. Todd Asset Management LLC purchased a new stake in shares of Lennar in the 3rd quarter worth $26,371,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Lennar by 319.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 274,173 shares of the construction company’s stock worth $34,557,000 after purchasing an additional 208,800 shares in the last quarter. Finally, Duquesne Family Office LLC increased its stake in shares of Lennar by 210.8% in the 3rd quarter. Duquesne Family Office LLC now owns 279,424 shares of the construction company’s stock worth $35,219,000 after purchasing an additional 189,524 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on LEN. Truist Financial reduced their price objective on Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. The Goldman Sachs Group restated a “neutral” rating on shares of Lennar in a research note on Friday, June 5th. Seaport Research Partners restated a “sell” rating and issued a $74.00 price objective (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. Argus reduced their price objective on Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods lowered Lennar from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $97.00 to $86.00 in a research note on Tuesday. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, Lennar currently has an average rating of “Reduce” and an average target price of $98.00.

Lennar Trading Down 2.9%

Shares of LEN stock opened at $89.89 on Thursday. Lennar Corporation has a 12-month low of $81.18 and a 12-month high of $144.24. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average price is $89.12 and its 200-day moving average price is $103.65. The stock has a market capitalization of $22.20 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 2.05 and a beta of 1.39.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.07). The firm had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period last year, the firm posted $2.14 earnings per share. Equities research analysts predict that Lennar Corporation will post 5.87 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were given a $0.50 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a yield of 2.2%. Lennar’s dividend payout ratio (DPR) is currently 28.74%.

More Lennar News

Here are the key news stories impacting Lennar this week:

• Neutral Sentiment: Lennar is set to report fiscal Q2 results after Thursday’s close, and analysts are watching for signs of stabilization after last quarter’s adjusted EPS and revenue both missed expectations. Article Title
• Neutral Sentiment: Commentary around the stock highlights that Lennar may need lower interest rates to support home sales, reinforcing the challenge of operating in a high-rate housing market. Article Title
• Negative Sentiment: Keefe, Bruyette & Woods downgraded Lennar to underperform and cut its price target to $86 from $97, signaling downside risk versus recent trading levels.
• Negative Sentiment: Recent previews note Lennar has missed analyst estimates in prior quarters, and investors appear wary that another earnings miss could extend the stock’s decline. Article Title

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.