Manning & Napier Advisors LLC Makes New $3.18 Million Investment in Lennar Corporation $LEN

Manning & Napier Advisors LLC purchased a new position in shares of Lennar Corporation (NYSE:LEN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 34,985 shares of the construction company’s stock, valued at approximately $3,178,000.

A number of other institutional investors have also made changes to their positions in the business. Ally Financial Inc. acquired a new position in Lennar during the second quarter worth $2,081,000. Butensky & Cohen Financial Security Inc. lifted its position in Lennar by 12.1% during the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 43,977 shares of the construction company’s stock worth $3,979,000 after buying an additional 4,750 shares in the last quarter. Hudson Value Partners LLC bought a new stake in Lennar during the 2nd quarter worth about $249,000. Tema ETFs LLC boosted its stake in shares of Lennar by 9.4% during the 2nd quarter. Tema ETFs LLC now owns 10,096 shares of the construction company’s stock worth $914,000 after buying an additional 870 shares during the last quarter. Finally, Everpar Advisors LLC grew its holdings in shares of Lennar by 16.5% in the 2nd quarter. Everpar Advisors LLC now owns 2,917 shares of the construction company’s stock valued at $264,000 after acquiring an additional 413 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Evercore upped their target price on Lennar from $82.00 to $87.00 and gave the stock an “underperform” rating in a report on Monday, June 15th. Bank of America lowered their price target on Lennar from $84.00 to $77.00 and set an “underperform” rating on the stock in a research report on Friday, June 12th. Zacks Research cut Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods cut their price objective on Lennar from $86.00 to $85.00 and set an “underperform” rating for the company in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have assigned a Sell rating to the company’s stock. According to MarketBeat, Lennar currently has an average rating of “Reduce” and an average target price of $92.13.

Lennar Price Performance

Shares of NYSE LEN opened at $87.85 on Wednesday. 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 business’s 50 day moving average price is $86.50 and its two-hundred day moving average price is $92.74. The company has a market cap of $21.16 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 2.93 and a beta of 1.39. Lennar Corporation has a twelve month low of $79.82 and a twelve month high of $144.24.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The company had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The business’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.81 earnings per share. On average, analysts predict that Lennar Corporation will post 5.52 EPS for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, July 10th. Lennar’s payout ratio is 31.30%.

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.