Virtu Financial LLC Buys New Position in Lennar Corporation $LEN

Virtu Financial LLC bought a new stake in shares of Lennar Corporation (NYSE:LEN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,095 shares of the construction company’s stock, valued at approximately $2,374,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Compound Planning Inc. increased its position in shares of Lennar by 8.4% during the fourth quarter. Compound Planning Inc. now owns 2,972 shares of the construction company’s stock worth $306,000 after buying an additional 231 shares during the period. Corient Private Wealth LLC lifted its holdings in Lennar by 104.2% in the fourth 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 during the period. Alpine Woods Capital Investors LLC bought a new stake in Lennar during the fourth quarter valued at $299,000. Vident Advisory LLC boosted its position in Lennar by 56.9% during the fourth quarter. Vident Advisory LLC now owns 23,026 shares of the construction company’s stock valued at $2,367,000 after acquiring an additional 8,351 shares during the last quarter. Finally, Beacon Pointe Advisors LLC grew 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 worth $728,000 after acquiring an additional 3,757 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Price Performance

Shares of NYSE LEN opened at $89.74 on Friday. The firm has a market capitalization of $22.17 billion, a P/E ratio of 14.04, a P/E/G ratio of 3.00 and a beta of 1.39. The firm’s 50-day moving average price is $89.57 and its 200-day moving average price is $101.95. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. Lennar Corporation has a 1-year low of $81.18 and a 1-year high of $144.24.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.24 by $0.07. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The company had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $8.08 billion. During the same period last year, the business posted $1.81 EPS. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that Lennar Corporation will post 5.47 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, April 22nd. Lennar’s dividend payout ratio (DPR) is 31.30%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LEN shares. The Goldman Sachs Group reissued a “neutral” rating on shares of Lennar in a research report on Friday, June 5th. Wells Fargo & Company decreased their target price on Lennar from $90.00 to $85.00 and set an “equal weight” rating for the company in a research note on Monday. Royal Bank Of Canada lowered their target price on Lennar from $88.00 to $85.00 and set an “underperform” rating for the company in a report on Monday, June 15th. Argus dropped their price target on Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Finally, Truist Financial cut their price target on Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $95.00.

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.