Saudi Central Bank Purchases 6,748 Shares of Lennar Corporation $LEN

Saudi Central Bank increased its position in shares of Lennar Corporation (NYSE:LEN) by 89.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 14,314 shares of the construction company’s stock after acquiring an additional 6,748 shares during the period. Saudi Central Bank’s holdings in Lennar were worth $1,295,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its stake in Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after buying an additional 377 shares during the last quarter. Intech Investment Management LLC raised its stake in Lennar by 29.8% in the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock valued at $1,589,000 after buying an additional 3,177 shares during the last quarter. Jump Financial LLC boosted its holdings in Lennar by 15.0% in the second quarter. Jump Financial LLC now owns 25,622 shares of the construction company’s stock worth $2,834,000 after acquiring an additional 3,345 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Lennar during the second quarter worth about $47,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Lennar by 4.6% during the second quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company’s stock valued at $3,867,000 after acquiring an additional 1,544 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LEN has been the topic of several research analyst reports. Truist Financial dropped their target price on shares of Lennar from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Thursday, August 6th. Argus set a $108.00 price objective on shares of Lennar in a research note on Thursday, July 9th. Zacks Research lowered shares of Lennar from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 16th. BTIG Research set a $67.00 target price on Lennar in a research report on Monday, June 15th. Finally, Royal Bank Of Canada lowered their price target on Lennar from $88.00 to $85.00 and set an “underperform” rating for the company in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat.com, Lennar currently has a consensus rating of “Reduce” and an average price target of $92.13.

Lennar Stock Performance

Shares of NYSE LEN opened at $80.56 on Wednesday. Lennar Corporation has a 1 year low of $79.82 and a 1 year high of $141.84. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. The company has a market capitalization of $19.41 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 2.78 and a beta of 1.39. The company’s fifty day moving average price is $85.29 and its 200 day moving average price is $90.27.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $8.08 billion. During the same quarter in the prior year, the firm posted $1.81 EPS. Lennar’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, research analysts predict that Lennar Corporation will post 5.52 earnings per share for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, July 10th. Lennar’s dividend payout ratio (DPR) is presently 31.30%.

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.