ABS Direct Equity Fund LLC Invests $574,000 in Lennar Co. (NYSE:LEN)

ABS Direct Equity Fund LLC bought a new stake in shares of Lennar Co. (NYSE:LEN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 5,000 shares of the construction company's stock, valued at approximately $574,000.

A number of other large investors also recently made changes to their positions in LEN. Hurley Capital LLC acquired a new position in Lennar in the fourth quarter valued at about $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Lennar in the 4th quarter valued at about $28,000. Ameriflex Group Inc. acquired a new stake in shares of Lennar in the 4th quarter valued at approximately $30,000. Opal Wealth Advisors LLC bought a new position in Lennar during the 1st quarter worth approximately $30,000. Finally, NBC Securities Inc. acquired a new position in Lennar during the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Down 3.2%

Shares of NYSE:LEN traded down $3.63 during midday trading on Friday, reaching $108.52. The company had a trading volume of 3,318,818 shares, compared to its average volume of 2,645,936. Lennar Co. has a 1-year low of $98.42 and a 1-year high of $187.61. The stock has a market cap of $28.63 billion, a PE ratio of 7.57, a P/E/G ratio of 1.24 and a beta of 1.33. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The business's 50 day moving average price is $107.85 and its 200 day moving average price is $123.63.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same quarter in the previous year, the firm earned $2.57 EPS. The business's quarterly revenue was up 4.4% on a year-over-year basis. Research analysts forecast that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Wednesday, April 23rd. Lennar's dividend payout ratio (DPR) is presently 14.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods cut their target price on shares of Lennar from $141.00 to $128.00 and set a "market perform" rating on the stock in a report on Tuesday, March 25th. Wells Fargo & Company dropped their price objective on Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Evercore ISI reissued an "in-line" rating and issued a $131.00 target price (down from $159.00) on shares of Lennar in a research note on Monday, March 24th. Seaport Res Ptn raised Lennar from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Finally, Bank of America decreased their price objective on Lennar from $140.00 to $130.00 and set a "neutral" rating for the company in a research report on Tuesday, March 18th. Fifteen research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $150.07.

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.