Monetta Financial Services Inc. Invests $945,000 in Lennar Corporation $LEN

Monetta Financial Services Inc. acquired a new stake in shares of Lennar Corporation (NYSE:LEN) in the third quarter, Holdings Channel reports. The firm acquired 7,500 shares of the construction company’s stock, valued at approximately $945,000.

Other hedge funds have also added to or reduced their stakes in the company. Viking Global Investors LP raised its stake in shares of Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after acquiring an additional 1,172,068 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Lennar by 7.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,154,892 shares of the construction company’s stock worth $145,563,000 after purchasing an additional 75,574 shares during the period. Swiss National Bank raised its position in Lennar by 4.3% during the 2nd quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock valued at $77,745,000 after purchasing an additional 29,300 shares in the last quarter. Basswood Capital Management L.L.C. lifted its holdings in shares of Lennar by 10.6% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 448,984 shares of the construction company’s stock worth $49,662,000 after buying an additional 43,051 shares during the period. Finally, River Road Asset Management LLC grew its position in shares of Lennar by 86.1% during the 2nd quarter. River Road Asset Management LLC now owns 443,477 shares of the construction company’s stock worth $49,749,000 after buying an additional 205,234 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LEN has been the topic of several research reports. Argus upgraded Lennar to a “strong-buy” rating in a research note on Friday, January 16th. BTIG Research set a $90.00 target price on shares of Lennar in a research report on Thursday, December 18th. Zacks Research lowered shares of Lennar from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Bank of America reissued an “underperform” rating and set a $95.00 price objective (down from $125.00) on shares of Lennar in a report on Thursday, December 18th. Finally, Royal Bank Of Canada set a $88.00 price objective on shares of Lennar in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $106.38.

Lennar Price Performance

Shares of LEN opened at $116.19 on Tuesday. The company has a 50 day moving average of $112.98 and a two-hundred day moving average of $122.03. The company has a market cap of $28.70 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 1.69 and a beta of 1.44. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $144.24.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.27%. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter in the prior year, the company posted $4.03 EPS. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, analysts predict that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.7%. Lennar’s payout ratio is presently 25.03%.

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.