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Lennar (LEN) Acquires 1,273 Homesites in the Tuxedo Reserve
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Lennar Corporation (LEN - Free Report) has been focused on various playbook strategies to reduce the direct construction cost, deliver gross margin improvement and maintain starts for the upcoming quarters.
In this regard, the company recently expanded its presence in New York through the acquisition of nine neighborhoods in the Tuxedo Reserve master-planned community. The purchase includes 1,273 homesites formerly owned by Related Companies.
This leading homebuilder will offer a variety of housing options, including townhomes, stacked townhomes, single-family homes and Active Adult neighborhoods.
Located in New York's southern Orange County, Tuxedo Reserve provides convenient commutable access to New York City and Northern New Jersey while maintaining a charming small-town atmosphere.
The company is optimistic in this regard and looks forward to partnering with the Town of Tuxedo, New York, to establish the master-planned community as a preferred destination for those seeking the Hudson Valley homeownership lifestyle.
Price Performance
Shares of LEN have increased 64.1% in the past year compared with the Zacks Building Products - Home Builders industry’s 74.1% rise. The company is poised to benefit from digital marketing initiatives and a dynamic pricing model. Also, land-lighter strategy and effective cost-control measures are other positives.
Image Source: Zacks Investment Research
The company is using its dynamic pricing model, which enables it to set prices according to the evolving market conditions. Courtesy of this strategy, Lennar had earlier taken advantage of the strong demand trend, which helped it to maximize cash flow and return on inventory.
Apart from the marketing initiatives, Lennar prioritized collaboration with trade partners to streamline the cost structure according to the prevailing sales price environment, aiming to accelerate construction and reduce supply chain disruptions. As a result, the company achieved improved profit margins sequentially and had more construction-ready homes available for delivery.
Zacks Rank & Key Picks
Lennar currently sports a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Construction sector are:
The Zacks Consensus Estimate for EME’s 2023 sales and earnings per share (EPS) suggests growth of 12% and 52.8%, respectively, from the year-ago period’s levels.
M-tron Industries, Inc. (MPTI - Free Report) currently sports a Zacks Rank of 1. MPTI delivered a trailing four-quarter earnings surprise of 35.6%, on average. It has surged 283.1% in the past year.
The Zacks Consensus Estimate for MPTI’s 2023 sales and EPS indicates growth of 30.6% and 156.7%, respectively, from the previous year’s levels.
AECOM (ACM - Free Report) carries a Zacks Rank of #2 (Buy). It has a trailing four-quarter earnings surprise of 2.1%, on average. Shares of ACM have surged 10.4% in the past year.
The Zacks Consensus Estimate for ACM’s 2024 sales and EPS indicates an increase of 4.5% and 17.5%, respectively, from the year-ago period’s levels.
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Lennar (LEN) Acquires 1,273 Homesites in the Tuxedo Reserve
Lennar Corporation (LEN - Free Report) has been focused on various playbook strategies to reduce the direct construction cost, deliver gross margin improvement and maintain starts for the upcoming quarters.
In this regard, the company recently expanded its presence in New York through the acquisition of nine neighborhoods in the Tuxedo Reserve master-planned community. The purchase includes 1,273 homesites formerly owned by Related Companies.
This leading homebuilder will offer a variety of housing options, including townhomes, stacked townhomes, single-family homes and Active Adult neighborhoods.
Located in New York's southern Orange County, Tuxedo Reserve provides convenient commutable access to New York City and Northern New Jersey while maintaining a charming small-town atmosphere.
The company is optimistic in this regard and looks forward to partnering with the Town of Tuxedo, New York, to establish the master-planned community as a preferred destination for those seeking the Hudson Valley homeownership lifestyle.
Price Performance
Shares of LEN have increased 64.1% in the past year compared with the Zacks Building Products - Home Builders industry’s 74.1% rise. The company is poised to benefit from digital marketing initiatives and a dynamic pricing model. Also, land-lighter strategy and effective cost-control measures are other positives.
Image Source: Zacks Investment Research
The company is using its dynamic pricing model, which enables it to set prices according to the evolving market conditions. Courtesy of this strategy, Lennar had earlier taken advantage of the strong demand trend, which helped it to maximize cash flow and return on inventory.
Apart from the marketing initiatives, Lennar prioritized collaboration with trade partners to streamline the cost structure according to the prevailing sales price environment, aiming to accelerate construction and reduce supply chain disruptions. As a result, the company achieved improved profit margins sequentially and had more construction-ready homes available for delivery.
Zacks Rank & Key Picks
Lennar currently sports a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Construction sector are:
EMCOR Group, Inc. (EME - Free Report) sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 25%, on average. Shares of EME have surged 46.2% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for EME’s 2023 sales and earnings per share (EPS) suggests growth of 12% and 52.8%, respectively, from the year-ago period’s levels.
M-tron Industries, Inc. (MPTI - Free Report) currently sports a Zacks Rank of 1. MPTI delivered a trailing four-quarter earnings surprise of 35.6%, on average. It has surged 283.1% in the past year.
The Zacks Consensus Estimate for MPTI’s 2023 sales and EPS indicates growth of 30.6% and 156.7%, respectively, from the previous year’s levels.
AECOM (ACM - Free Report) carries a Zacks Rank of #2 (Buy). It has a trailing four-quarter earnings surprise of 2.1%, on average. Shares of ACM have surged 10.4% in the past year.
The Zacks Consensus Estimate for ACM’s 2024 sales and EPS indicates an increase of 4.5% and 17.5%, respectively, from the year-ago period’s levels.