University of Texas Texas AM Investment Management Co. Decreases Stock Holdings in Lennar Co. (NYSE:LEN)

University of Texas Texas AM Investment Management Co. decreased its position in Lennar Co. (NYSE:LEN) by 50.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,416 shares of the construction company’s stock after selling 9,437 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in Lennar were worth $1,411,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of LEN. Rise Advisors LLC increased its position in shares of Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after acquiring an additional 121 shares during the period. J.Safra Asset Management Corp purchased a new position in shares of Lennar in the first quarter valued at about $30,000. New Covenant Trust Company N.A. purchased a new position in shares of Lennar during the first quarter valued at about $32,000. Redmont Wealth Advisors LLC purchased a new position in shares of Lennar during the first quarter valued at about $35,000. Finally, Fortitude Family Office LLC increased its position in shares of Lennar by 223.6% during the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LEN. Barclays boosted their price target on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Bank of America boosted their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. The Goldman Sachs Group cut shares of Lennar from a “buy” rating to a “neutral” rating and reduced their price target for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. Argus boosted their price target on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lennar presently has a consensus rating of “Hold” and an average target price of $181.94.

Lennar Trading Up 0.4 %

Shares of NYSE LEN opened at $188.30 on Wednesday. The firm’s 50 day moving average price is $178.86 and its 200-day moving average price is $165.16. The company has a market cap of $51.71 billion, a PE ratio of 12.80, a P/E/G ratio of 1.71 and a beta of 1.61. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.91 earnings per share. On average, equities research analysts expect that Lennar Co. will post 14.13 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.06%. Lennar’s dividend payout ratio (DPR) is 13.60%.

About Lennar

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's 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; and development, construction, and management of multifamily rental properties.