10,264 Shares of Lennar Corporation $LEN Bought by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. acquired a new stake in Lennar Corporation (NYSE:LEN) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 10,264 shares of the construction company’s stock, valued at approximately $837,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Concurrent Investment Advisors LLC boosted its holdings in shares of Lennar by 77.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 89,178 shares of the construction company’s stock worth $8,070,000 after buying an additional 38,822 shares in the last quarter. Nykredit A S acquired a new stake in shares of Lennar during the 2nd quarter worth approximately $5,295,000. Nan Shan Life Insurance Co. Ltd. increased its stake in shares of Lennar by 6,292.5% in the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 328,000 shares of the construction company’s stock valued at $29,681,000 after acquiring an additional 322,869 shares in the last quarter. Corient Private Wealth LP increased its stake in shares of Lennar by 24.7% in the 2nd quarter. Corient Private Wealth LP now owns 82,261 shares of the construction company’s stock valued at $7,444,000 after acquiring an additional 16,299 shares in the last quarter. Finally, Redwood Investment Management LLC acquired a new position in shares of Lennar during the 1st quarter valued at $1,028,000. Institutional investors own 81.10% of the company’s stock.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc bought 1,708,095 shares of Lennar stock in a transaction dated Friday, October 2nd. The stock was purchased at an average price of $79.44 per share, for a total transaction of $135,691,066.80. Following the purchase, the insider directly owned 28,438,045 shares in the company, valued at $2,259,118,294.80. The trade was a 6.39% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have acquired 7,502,276 shares of company stock valued at $595,303,287. Corporate insiders own 10.05% of the company’s stock.

Lennar Stock Down 0.8%

Shares of NYSE:LEN opened at $77.06 on Friday. The stock has a market cap of $18.33 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.92 and a beta of 1.36. The company has a quick ratio of 0.69, a current ratio of 4.94 and a debt-to-equity ratio of 0.20. Lennar Corporation has a 12-month low of $71.78 and a 12-month high of $133.76. The business’s 50 day moving average is $81.79 and its 200 day moving average is $85.87.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Wednesday, September 16th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.06). The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $8.32 billion. Lennar had a return on equity of 6.15% and a net margin of 4.09%. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.00 EPS. On average, sell-side analysts forecast that Lennar Corporation will post 4.87 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Wednesday, October 7th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, October 7th. Lennar’s payout ratio is currently 37.81%.

Lennar News Roundup

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Berkshire Hathaway support remains a potential catalyst. Recent disclosures indicated that Berkshire Hathaway increased its Lennar position to more than 28.4 million Class A shares, or approximately 12.5% of the outstanding stock. Investors may view the purchases as a signal that LEN is undervalued despite near-term homebuilding challenges. Why Lennar Stock Is Up Today
• Positive Sentiment: Lennar is expanding its attainable-housing pipeline. The company broke ground on The Foundry, a downtown Las Vegas project expected to include more than 1,000 homes, and opened Foxwood in Decatur, where homes start in the low-$200,000s. These projects could support future deliveries and broaden Lennar’s exposure to more affordable buyers. Lennar Breaks Ground on The Foundry Lennar Opens Foxwood
• Neutral Sentiment: Lennar completed a $300 million senior-notes offering. The financing increases liquidity for land, construction and corporate purposes, although it also adds interest obligations and leverage. Lennar Raises Capital via New Senior Notes Offering
• Negative Sentiment: Fundamental results remain a key overhang. Lennar’s latest quarterly EPS and revenue missed consensus estimates, while revenue fell 8.7% year over year and EPS declined from the prior-year period. Analysts are now focused on whether deliveries, margins and demand can improve in the next report. Why Is Lennar Down Since Its Earnings Report
• Negative Sentiment: Shares reached a new one-year low amid continued weakness. The move reflects investor concerns about mortgage rates, affordability, housing demand and pressured homebuilding margins. Lennar Reaches New One-Year Low
• Negative Sentiment: Multiple law firms announced securities-fraud investigations. The inquiries allege possible federal securities-law violations; no wrongdoing has been established, but the headlines add reputational and potential litigation risk. Securities Fraud Investigation Into Lennar

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Benchmark raised shares of Lennar to a “hold” rating in a research note on Thursday, September 3rd. Barclays decreased their price target on shares of Lennar from $79.00 to $70.00 and set an “underweight” rating for the company in a research note on Friday, September 18th. BTIG Research reiterated a “sell” rating and set a $63.00 price objective on shares of Lennar in a report on Friday, September 18th. Bank of America dropped their price objective on shares of Lennar from $77.00 to $70.00 and set an “underperform” rating on the stock in a report on Monday, September 14th. Finally, Wells Fargo & Company cut their price objective on shares of Lennar from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 7th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Lennar presently has a consensus rating of “Reduce” and a consensus price target of $79.00.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a homebuilding company that designs, constructs and sells single-family homes and, through its multifamily operations, develops apartment communities. Its residential offerings generally include homes across a range of sizes and prices, serving first-time, move-up and active-adult buyers.

The company also provides related services through businesses involved in mortgage financing, title and closing services, insurance and other real estate activities. Lennar develops residential communities and manages land acquisition, planning and construction as part of its integrated homebuilding model.

Founded in 1954, Lennar has expanded from its origins in South Florida into a national homebuilder serving numerous markets across the United States.