Aigen Investment Management LP Invests $2.19 Million in Lennar Corporation (NYSE:LEN)

Key Points

• Aigen Investment Management LP has invested approximately $2.19 million in Lennar Corporation by purchasing 19,049 shares during the first quarter.
• Lennar's recent quarterly earnings reported an EPS of $1.90, which fell short of the consensus estimate of $1.94, and the company experienced a 4.4% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.50 per share, resulting in an annualized yield of 1.7% and a payout ratio of 16.54%.

Aigen Investment Management LP purchased a new position in shares of Lennar Corporation (NYSE:LEN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,049 shares of the construction company's stock, valued at approximately $2,186,000.

Other large investors have also modified their holdings of the company. Ameriflex Group Inc. purchased a new stake in shares of Lennar during the fourth quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Lennar during the first quarter worth about $30,000. NBC Securities Inc. acquired a new stake in shares of Lennar during the first quarter worth about $33,000. Itau Unibanco Holding S.A. lifted its holdings in shares of Lennar by 611.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 299 shares of the construction company's stock worth $41,000 after purchasing an additional 257 shares during the period. Finally, Franchise Capital Ltd acquired a new stake in shares of Lennar during the first quarter worth about $38,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Stock Up 1.2%

Shares of LEN opened at $120.91 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65. Lennar Corporation has a one year low of $98.42 and a one year high of $193.80. The stock has a market capitalization of $31.32 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 5.13 and a beta of 1.29. The stock has a 50 day moving average price of $112.01 and a 200 day moving average price of $114.32.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $8.21 billion. During the same quarter in the previous year, the firm posted $3.45 earnings per share. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. Equities research analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.00 annualized dividend and a yield of 1.7%. Lennar's dividend payout ratio is presently 16.54%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LEN shares. JMP Securities decreased their target price on Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a report on Friday, June 20th. Barclays decreased their price target on Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. Keefe, Bruyette & Woods decreased their price target on Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a report on Friday, June 20th. Bank of America decreased their price target on Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Finally, UBS Group decreased their price target on Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $128.85.

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.

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