Myriad Asset Management US LP Invests $1.10 Million in Lennar Corporation $LEN

Myriad Asset Management US LP purchased a new position in shares of Lennar Corporation (NYSE:LEN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,736 shares of the construction company’s stock, valued at approximately $1,101,000.

Several other large investors have also made changes to their positions in LEN. Brighton Jones LLC grew its holdings in shares of Lennar by 27.9% during the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after purchasing an additional 377 shares during the last quarter. Intech Investment Management LLC grew its holdings in Lennar by 29.8% during the 1st quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock worth $1,589,000 after acquiring an additional 3,177 shares during the period. Fifth Third Bancorp increased its stake in shares of Lennar by 6.1% in the 2nd quarter. Fifth Third Bancorp now owns 10,887 shares of the construction company’s stock valued at $1,204,000 after acquiring an additional 628 shares during the last quarter. Accurate Wealth Management LLC raised its stake in Lennar by 2.8% during the 2nd quarter. Accurate Wealth Management LLC now owns 6,609 shares of the construction company’s stock worth $770,000 after buying an additional 179 shares during the period. Finally, Ballentine Partners LLC boosted its holdings in shares of Lennar by 51.0% in the second quarter. Ballentine Partners LLC now owns 4,420 shares of the construction company’s stock valued at $489,000 after buying an additional 1,493 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 2.7%

LEN stock opened at $114.76 on Friday. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The stock has a market cap of $29.27 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.73 and a beta of 1.42. The stock’s fifty day simple moving average is $116.42 and its two-hundred day simple moving average is $121.72. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $144.24.

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

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Wednesday, February 4th will be given a $0.50 dividend. The ex-dividend date is Wednesday, February 4th. This represents a $2.00 dividend on an annualized basis and a yield of 1.7%. Lennar’s payout ratio is presently 25.03%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LEN. Evercore ISI cut shares of Lennar from an “in-line” rating to an “underperform” rating and reduced their target price for the stock from $114.00 to $92.00 in a report on Thursday, December 18th. Citigroup cut their price target on Lennar from $133.00 to $113.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Argus upgraded Lennar to a “strong-buy” rating in a report on Friday, January 16th. Bank of America reiterated an “underperform” rating and issued a $95.00 price objective (down previously from $125.00) on shares of Lennar in a research note on Thursday, December 18th. Finally, UBS Group downgraded Lennar from a “buy” rating to a “neutral” rating and cut their target price for the company from $137.00 to $122.00 in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $106.38.

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.