332,153 Shares in Lennar Corporation $LEN Purchased by Ceredex Value Advisors LLC

Key Points

• Ceredex Value Advisors LLC purchased 332,153 shares of Lennar Corporation, valued at approximately $38.1 million, indicating an increasing institutional interest in the company's stock.
• Lennar reported earnings of $1.90 EPS, missing analyst expectations, while quarterly revenue was down 4.4% year-over-year.
• Recent analyst ratings show a consensus of "Hold" for Lennar, with target prices adjusted downwards by various brokerages.

Ceredex Value Advisors LLC acquired a new position in shares of Lennar Corporation (NYSE:LEN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 332,153 shares of the construction company's stock, valued at approximately $38,125,000. Ceredex Value Advisors LLC owned about 0.13% of Lennar as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of LEN. Jump Financial LLC lifted its position in Lennar by 480.1% during the first quarter. Jump Financial LLC now owns 22,277 shares of the construction company's stock valued at $2,557,000 after purchasing an additional 18,437 shares during the last quarter. Van Hulzen Asset Management LLC increased its stake in shares of Lennar by 140.3% in the first quarter. Van Hulzen Asset Management LLC now owns 3,023 shares of the construction company's stock worth $347,000 after buying an additional 1,765 shares during the period. Kestra Advisory Services LLC increased its stake in shares of Lennar by 40.7% in the first quarter. Kestra Advisory Services LLC now owns 23,785 shares of the construction company's stock worth $2,730,000 after buying an additional 6,876 shares during the period. Allstate Corp increased its stake in shares of Lennar by 62.4% in the first quarter. Allstate Corp now owns 11,711 shares of the construction company's stock worth $1,344,000 after buying an additional 4,500 shares during the period. Finally, Arnhold LLC purchased a new position in shares of Lennar in the first quarter worth $2,882,000. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LEN. Bank of America decreased their target price on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 18th. JMP Securities decreased their target price on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a research note on Friday, June 20th. Wedbush reaffirmed a "neutral" rating and issued a $130.00 target price on shares of Lennar in a research note on Wednesday, June 18th. Barclays cut their price target on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. Finally, UBS Group cut their price target on shares of Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, Lennar presently has a consensus rating of "Hold" and an average target price of $128.85.

Lennar Stock Performance

Shares of LEN stock opened at $134.88 on Tuesday. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $193.80. The stock has a market cap of $34.93 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 5.76 and a beta of 1.29. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12. The company's fifty day moving average price is $116.58 and its 200-day moving average price is $114.17.

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 analysts' consensus estimates of $1.94 by ($0.04). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter last year, the firm posted $3.45 EPS. The business's quarterly revenue was down 4.4% on a year-over-year basis. On average, equities analysts expect that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors 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 1.5%. Lennar's payout ratio is presently 16.54%.

Lennar Company 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.

Want to see what other hedge funds are holding LEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lennar Corporation (NYSE:LEN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.