11,841 Shares in Lennar Corporation $LEN Bought by Redwood Investment Management LLC

Key Points

• Redwood Investment Management initiated a Lennar position of 11,841 shares valued at approximately $1.03 million. Institutional investors and hedge funds collectively own 81.1% of Lennar.
• Analyst sentiment is broadly negative: Lennar has one Buy, seven Hold, and ten Sell ratings, resulting in a consensus “Reduce” rating and an average price target of $92.80.
• Lennar beat quarterly EPS estimates with $1.31 per share, but revenue fell 5.2% year over year to $7.94 billion. The company also maintains a quarterly dividend of $0.50 per share, equivalent to a 2.3% yield.

Redwood Investment Management LLC bought a new stake in Lennar Corporation (NYSE:LEN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,841 shares of the construction company's stock, valued at approximately $1,028,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Viking Global Investors LP boosted its stake in Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company's stock valued at $279,135,000 after acquiring an additional 1,172,068 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. increased its position in shares of Lennar by 90.9% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company's stock worth $201,835,000 after purchasing an additional 934,856 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Lennar in the 4th quarter valued at about $95,941,000. Bank of Nova Scotia boosted its position in shares of Lennar by 1,303.1% in the 4th quarter. Bank of Nova Scotia now owns 490,105 shares of the construction company's stock valued at $50,383,000 after purchasing an additional 455,174 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Lennar by 19.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company's stock worth $221,176,000 after buying an additional 419,745 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LEN has been the subject of a number of research reports. UBS Group reduced their price objective on Lennar from $107.00 to $94.00 and set a "neutral" rating for the company in a research note on Tuesday, June 16th. Zacks Research lowered shares of Lennar from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 16th. Bank of America reduced their price target on shares of Lennar from $84.00 to $77.00 and set an "underperform" rating for the company in a research report on Friday, June 12th. JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $80.00 to $77.00 and set an "underweight" rating on the stock in a research note on Tuesday, June 16th. Finally, Seaport Research Partners reiterated a "sell" rating and set a $74.00 target price (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have given a Sell rating to the company. According to MarketBeat.com, Lennar has an average rating of "Reduce" and a consensus target price of $92.80.

Lennar Stock Performance

Shares of LEN opened at $85.22 on Tuesday. The stock has a market capitalization of $20.53 billion, a P/E ratio of 13.34, a P/E/G ratio of 2.73 and a beta of 1.39. The company's fifty day moving average is $87.76 and its two-hundred day moving average is $95.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. Lennar Corporation has a 1 year low of $79.82 and a 1 year high of $144.24.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The business had revenue of $7.94 billion for the quarter, compared to analyst estimates of $8.08 billion. During the same period in the previous year, the business posted $1.81 earnings per share. The business's revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Lennar Corporation will post 5.52 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, July 10th. Lennar's dividend payout ratio (DPR) is currently 31.30%.

About Lennar

Lennar Corporation NYSE: LEN is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source