6,855 Shares in Lennar Corporation $LEN Bought by Hurley Capital LLC

Hurley Capital LLC bought a new stake in Lennar Corporation (NYSE:LEN) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 6,855 shares of the construction company’s stock, valued at approximately $758,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in Lennar by 45.4% during the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock valued at $1,020,866,000 after buying an additional 2,777,567 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Lennar during the 2nd quarter valued at $424,950,000. Brave Warrior Advisors LLC boosted its stake in shares of Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock worth $251,323,000 after acquiring an additional 415,218 shares during the period. Eminence Capital LP boosted its position in shares of Lennar by 130.8% during the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock worth $181,523,000 after acquiring an additional 896,264 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Lennar by 20.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 736,490 shares of the construction company’s stock valued at $84,534,000 after purchasing an additional 123,266 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the subject of several research analyst reports. UBS Group raised their price target on Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a report on Monday, September 22nd. JPMorgan Chase & Co. restated an “underweight” rating and set a $115.00 target price (down from $118.00) on shares of Lennar in a research report on Thursday, December 4th. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 4th. Wedbush reiterated a “neutral” rating and issued a $130.00 target price on shares of Lennar in a report on Monday, September 22nd. Finally, The Goldman Sachs Group raised their price target on Lennar from $122.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $121.77.

Lennar Trading Down 2.7%

LEN stock opened at $120.59 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The company has a market capitalization of $30.75 billion, a PE ratio of 11.92, a P/E/G ratio of 5.25 and a beta of 1.38. The firm’s 50-day moving average is $124.24 and its 200 day moving average is $121.12. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $166.24.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 18th. The construction company reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). The firm had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.90 EPS. On average, research analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, October 10th. Lennar’s dividend payout ratio is presently 19.76%.

About Lennar

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.