Lennar (NYSE:LEN) Announces Quarterly Earnings Results

Lennar (NYSE:LEN) posted its quarterly earnings results on Thursday. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.08, FiscalAI reports. Lennar had a net margin of 5.39% and a return on equity of 7.80%.

Lennar Stock Performance

LEN stock traded up $5.10 during midday trading on Thursday, reaching $94.95. 3,357,017 shares of the company’s stock traded hands, compared to its average volume of 2,942,856. The stock’s 50-day moving average is $89.12 and its 200 day moving average is $103.65. 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 has a market cap of $23.45 billion, a P/E ratio of 13.64, a PEG ratio of 2.05 and a beta of 1.39. Lennar has a 52-week low of $81.18 and a 52-week high of $144.24.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.1%. Lennar’s dividend payout ratio is 28.74%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Evercore lowered their price objective on shares of Lennar from $89.00 to $82.00 and set an “underperform” rating on the stock in a research report on Monday, April 13th. Argus decreased their target price on shares of Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Weiss Ratings cut shares of Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 16th. Keefe, Bruyette & Woods cut shares of Lennar from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $97.00 to $86.00 in a research report on Tuesday. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of Lennar in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and nine have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $97.27.

Hedge Funds Weigh In On Lennar

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Compound Planning Inc. lifted its holdings in Lennar by 8.4% during the 4th quarter. Compound Planning Inc. now owns 2,972 shares of the construction company’s stock valued at $306,000 after buying an additional 231 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Lennar by 104.2% during the 4th quarter. Corient Private Wealth LLC now owns 135,342 shares of the construction company’s stock valued at $13,913,000 after buying an additional 69,061 shares in the last quarter. Alpine Woods Capital Investors LLC bought a new stake in Lennar during the 4th quarter valued at about $299,000. Vident Advisory LLC lifted its holdings in Lennar by 56.9% during the 4th quarter. Vident Advisory LLC now owns 23,026 shares of the construction company’s stock valued at $2,367,000 after buying an additional 8,351 shares in the last quarter. Finally, Beacon Pointe Advisors LLC lifted its holdings in Lennar by 113.0% during the 4th quarter. Beacon Pointe Advisors LLC now owns 7,082 shares of the construction company’s stock valued at $728,000 after buying an additional 3,757 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.