22,145 Shares in Lennar Corporation $LEN Bought by Caxton Associates LLP

Key Points

• Caxton Associates LLP has acquired a new position in Lennar Corporation, purchasing 22,145 shares valued at approximately $2,542,000.
• The company reported a quarterly earnings miss with an EPS of $1.90, falling short of analysts' expectations of $1.94, despite generating $8.38 billion in revenue.
• Several analysts have adjusted their target prices for Lennar, with Bank of America reducing it from $110.00 to $105.00, while Wells Fargo increased it from $110.00 to $135.00.

Caxton Associates LLP bought a new position in Lennar Corporation (NYSE:LEN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 22,145 shares of the construction company's stock, valued at approximately $2,542,000.

Several other hedge funds also recently made changes to their positions in the company. Sciencast Management LP acquired a new position in shares of Lennar in the 1st quarter worth approximately $2,876,000. UniSuper Management Pty Ltd lifted its holdings in shares of Lennar by 13.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 24,242 shares of the construction company's stock worth $2,782,000 after purchasing an additional 2,902 shares during the last quarter. Parkwood LLC lifted its holdings in shares of Lennar by 4.9% in the 1st quarter. Parkwood LLC now owns 64,069 shares of the construction company's stock worth $7,354,000 after purchasing an additional 2,972 shares during the last quarter. Permanens Capital L.P. bought a new stake in shares of Lennar in the 1st quarter worth approximately $799,000. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Lennar by 1.2% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 31,217 shares of the construction company's stock worth $3,583,000 after purchasing an additional 361 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Price Performance

Shares of LEN traded down $2.90 during midday trading on Friday, reaching $137.19. The stock had a trading volume of 2,852,061 shares, compared to its average volume of 3,160,278. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $193.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. The firm's 50 day moving average price is $123.53 and its 200-day moving average price is $115.51. The company has a market capitalization of $35.53 billion, a P/E ratio of 11.35, a P/E/G ratio of 5.80 and a beta of 1.33.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%.The firm had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.21 billion. During the same period in the prior year, the firm posted $3.45 EPS. The firm's quarterly revenue was down 4.4% on a year-over-year basis. On average, analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, July 3rd. Lennar's payout ratio is presently 16.54%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LEN shares. JMP Securities cut their price target on Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a report on Friday, June 20th. Barclays cut their target price on Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Wall Street Zen downgraded Lennar from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. UBS Group cut their target price on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. Finally, Wells Fargo & Company lifted their target price on Lennar from $110.00 to $135.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $130.77.

Lennar Profile

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.