Lennar Co. (LEN) Stake Boosted by Carillon Tower Advisers Inc.
Carillon Tower Advisers Inc. increased its holdings in Lennar Co. (NYSE:LEN) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 471,785 shares of the construction company’s stock after acquiring an additional 7,607 shares during the period. Carillon Tower Advisers Inc. owned about 0.14% of Lennar worth $24,768,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Mengis Capital Management Inc. grew its holdings in shares of Lennar by 39.4% in the second quarter. Mengis Capital Management Inc. now owns 27,855 shares of the construction company’s stock valued at $1,462,000 after acquiring an additional 7,878 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in Lennar by 132.4% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 48,445 shares of the construction company’s stock valued at $2,543,000 after purchasing an additional 27,595 shares during the period. Brinker Capital Inc. grew its holdings in Lennar by 20.4% during the first quarter. Brinker Capital Inc. now owns 23,208 shares of the construction company’s stock valued at $1,368,000 after purchasing an additional 3,931 shares during the period. Victory Capital Management Inc. grew its holdings in Lennar by 5.4% during the first quarter. Victory Capital Management Inc. now owns 48,181 shares of the construction company’s stock valued at $2,840,000 after purchasing an additional 2,474 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new position in Lennar during the first quarter valued at $241,000. 85.59% of the stock is owned by institutional investors.
Several brokerages have weighed in on LEN. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Tuesday, June 5th. Maxim Group reduced their price objective on Lennar from $83.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, May 23rd. Barclays reissued an “overweight” rating and set a $65.00 price objective (down from $72.00) on shares of Lennar in a report on Wednesday, June 27th. MKM Partners reduced their price objective on Lennar to $71.00 and set a “buy” rating for the company in a report on Wednesday, May 23rd. Finally, Citigroup began coverage on Lennar in a report on Tuesday, June 19th. They set a “buy” rating and a $65.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Lennar currently has a consensus rating of “Buy” and a consensus price target of $71.69.
NYSE:LEN opened at $51.55 on Friday. The firm has a market cap of $17.31 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 0.45 and a beta of 1.29. Lennar Co. has a 1 year low of $48.71 and a 1 year high of $72.17. The company has a current ratio of 11.81, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73.
Lennar (NYSE:LEN) last posted its earnings results on Tuesday, June 26th. The construction company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $1.13. The firm had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.10 billion. Lennar had a return on equity of 12.82% and a net margin of 6.49%. The business’s quarterly revenue was up 67.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. analysts predict that Lennar Co. will post 6.1 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 26th. Shareholders of record on Thursday, July 12th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, July 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.31%. Lennar’s dividend payout ratio is currently 4.20%.
Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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.
Further Reading: Leveraged Buyout (LBO)
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