VeriStar Capital Management LP Purchases Shares of 10,900 Lennar Corporation $LEN

Key Points

• VeriStar Capital Management LP acquired 10,900 shares of Lennar Corporation, valued at approximately $1.25 million, making it the 14th largest position in their portfolio.
• Overall, 81.1% of Lennar's stock is held by institutional investors, with significant stakes raised by several firms such as Brave Warrior Advisors LLC and Graham Capital Management L.P.
• Lennar's recent earnings report showed a 4.4% year-over-year decline in revenue, with an EPS of $1.90, missing analyst estimates by $0.04.

VeriStar Capital Management LP bought a new stake in Lennar Corporation (NYSE:LEN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,900 shares of the construction company's stock, valued at approximately $1,251,000. Lennar makes up about 2.3% of VeriStar Capital Management LP's investment portfolio, making the stock its 14th largest position.

Several other large investors have also recently bought and sold shares of the company. EP Wealth Advisors LLC increased its stake in Lennar by 2.3% in the first quarter. EP Wealth Advisors LLC now owns 4,782 shares of the construction company's stock valued at $549,000 after purchasing an additional 107 shares in the last quarter. Brave Warrior Advisors LLC increased its stake in Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company's stock valued at $251,323,000 after purchasing an additional 415,218 shares in the last quarter. One Wealth Capital Management LLC boosted its holdings in shares of Lennar by 7.7% in the first quarter. One Wealth Capital Management LLC now owns 1,943 shares of the construction company's stock valued at $223,000 after buying an additional 139 shares during the period. Graham Capital Management L.P. boosted its holdings in shares of Lennar by 223.0% in the first quarter. Graham Capital Management L.P. now owns 11,835 shares of the construction company's stock valued at $1,358,000 after buying an additional 8,171 shares during the period. Finally, Armistice Capital LLC acquired a new position in shares of Lennar in the first quarter valued at approximately $4,017,000. Institutional investors own 81.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada reduced their price target on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a report on Wednesday, June 18th. Evercore ISI reduced their price target on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a report on Wednesday, June 18th. JMP Securities reduced their price target on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a report on Friday, June 20th. Bank of America reduced their price target on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Finally, UBS Group reduced their price target on shares of Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $130.77.

Lennar Stock Up 2.7%

LEN traded up $3.74 during trading hours on Friday, hitting $141.81. 4,266,767 shares of the company's stock were exchanged, compared to its average volume of 2,986,634. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $193.80. The stock's 50-day moving average is $121.44 and its two-hundred day moving average is $115.01. The stock has a market cap of $36.73 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 5.86 and a beta of 1.33. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12.

Lennar (NYSE:LEN - Get Free Report) last announced its earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%.The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. During the same quarter in the previous year, the company posted $3.45 EPS. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. Sell-side analysts predict that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were paid a $0.50 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. Lennar's dividend payout ratio (DPR) is currently 16.54%.

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.