Advisors Preferred LLC Makes New Investment in Lennar Corporation (NYSE:LEN)

Advisors Preferred LLC acquired a new stake in Lennar Corporation (NYSE:LEN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,300 shares of the construction company's stock, valued at approximately $378,000.

Several other hedge funds also recently added to or reduced their stakes in LEN. Castlekeep Investment Advisors LLC purchased a new position in Lennar in the fourth quarter valued at about $218,533,000. Wellington Management Group LLP increased its position in shares of Lennar by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company's stock worth $441,769,000 after acquiring an additional 515,378 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Lennar during the first quarter worth about $37,055,000. D1 Capital Partners L.P. increased its position in shares of Lennar by 67.3% during the fourth quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock worth $88,116,000 after acquiring an additional 270,433 shares during the last quarter. Finally, Man Group plc increased its position in shares of Lennar by 112.5% during the fourth quarter. Man Group plc now owns 506,722 shares of the construction company's stock worth $69,102,000 after acquiring an additional 268,209 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of analyst reports. Evercore ISI dropped their target price on Lennar from $131.00 to $114.00 and set an "in-line" rating on the stock in a research report on Wednesday, June 18th. UBS Group dropped their target price on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Wells Fargo & Company lowered their price objective on Lennar from $120.00 to $110.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Bank of America lowered their price objective on Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Finally, Zelman & Associates lowered Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $128.85.

Lennar Stock Performance

Shares of NYSE LEN traded down $3.67 during midday trading on Thursday, hitting $113.59. 2,788,951 shares of the company's stock were exchanged, compared to its average volume of 3,201,048. 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 stock's 50 day moving average price is $109.83 and its 200-day moving average price is $115.88. The firm has a market cap of $29.42 billion, a P/E ratio of 9.40, a PEG ratio of 4.98 and a beta of 1.33. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $193.80.

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

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were given 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 1.76%. Lennar's dividend payout ratio (DPR) is 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.