Siemens Fonds Invest GmbH Trims Stake in Lennar Co. (NYSE:LEN)

Posted by Defense World Staff on Jun 13th, 2023

Siemens Fonds Invest GmbH trimmed its stake in Lennar Co. (NYSE:LEN – Get Rating) by 15.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,302 shares of the construction company’s stock after selling 411 shares during the period. Siemens Fonds Invest GmbH’s holdings in Lennar were worth $208,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its stake in shares of Lennar by 10.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,184 shares of the construction company’s stock valued at $989,000 after acquiring an additional 1,173 shares during the period. Cibc World Market Inc. grew its stake in shares of Lennar by 6.8% during the 1st quarter. Cibc World Market Inc. now owns 9,499 shares of the construction company’s stock valued at $771,000 after acquiring an additional 602 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Lennar by 172.1% during the 1st quarter. Vontobel Holding Ltd. now owns 14,925 shares of the construction company’s stock valued at $1,256,000 after buying an additional 9,440 shares in the last quarter. Prudential PLC purchased a new position in shares of Lennar during the 1st quarter valued at $1,711,000. Finally, Moors & Cabot Inc. purchased a new position in shares of Lennar during the 1st quarter valued at $200,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Stock Performance

Lennar stock opened at $115.38 on Tuesday. Lennar Co. has a 1-year low of $62.54 and a 1-year high of $117.04. The company’s 50-day moving average is $110.29 and its 200 day moving average is $101.50. The firm has a market capitalization of $33.39 billion, a P/E ratio of 7.15, a price-to-earnings-growth ratio of 1.94 and a beta of 1.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.82 and a quick ratio of 1.38.

Lennar (NYSE:LEN – Get Rating) last released its earnings results on Wednesday, March 15th. The construction company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.56. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $5.99 billion. Lennar had a return on equity of 21.18% and a net margin of 13.86%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.70 earnings per share. Research analysts forecast that Lennar Co. will post 9.79 EPS for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 10th. Stockholders of record on Wednesday, April 26th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Tuesday, April 25th. Lennar’s dividend payout ratio is currently 9.30%.

Insider Activity

In other news, CFO Diane J. Bessette sold 9,289 shares of the business’s stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $103.16, for a total transaction of $958,253.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Credit Suisse Group lifted their target price on shares of Lennar from $88.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, March 16th. Barclays raised their target price on shares of Lennar from $120.00 to $135.00 in a research note on Wednesday, May 24th. JMP Securities reissued a “market outperform” rating and set a $115.00 price target on shares of Lennar in a research note on Thursday, March 16th. Keefe, Bruyette & Woods increased their price target on Lennar from $126.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, March 21st. Finally, UBS Group increased their price target on Lennar from $117.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, March 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $106.47.

Lennar Company Profile

(Get Rating)

Lennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.