Professional
Added to YB: 2024-02-27
Pitch date: 2024-02-26
LEN [bullish]
Lennar Corporation
-35.75%
current return
Author Info
No bio for this author
Company Info
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States.
Market Cap
$20.9B
Pitch Price
$138.27
Price Target
N/A
Dividend
2.35%
EV/EBITDA
6.32
P/E
12.16
EV/Sales
0.53
Sector
Household Durables
Category
value
Aristotle Capital Value Equity Portfolio Holding - Lennar Corporation
$LEN: Despite peak mortgage rates in Q4, agile pricing, digital marketing & incentives drove volume & cash flow while reducing cycle times & debt. 73K homes delivered in 2023 (+10% YoY). Land light strategy at 76% vs 69% YoY & <30% in 2015. Strong FCF, balance sheet, inventory mgmt & efficiencies to meet demand in undersupplied US housing market.
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