AustralianSuper Pty Ltd Buys Shares of 322,837 Lennar Corporation (NYSE:LEN)

AustralianSuper Pty Ltd purchased a new stake in Lennar Corporation (NYSE:LEN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 322,837 shares of the construction company's stock, valued at approximately $37,055,000. AustralianSuper Pty Ltd owned 0.12% of Lennar at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LEN. The Manufacturers Life Insurance Company boosted its stake in shares of Lennar by 3.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company's stock valued at $834,115,000 after purchasing an additional 213,003 shares in the last quarter. Wellington Management Group LLP grew its holdings in 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 buying an additional 515,378 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Lennar during the fourth quarter worth $218,533,000. Eminence Capital LP grew its holdings in Lennar by 43.4% during the fourth quarter. Eminence Capital LP now owns 685,225 shares of the construction company's stock worth $93,444,000 after buying an additional 207,343 shares in the last quarter. Finally, D1 Capital Partners L.P. grew its stake in Lennar by 67.3% in the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock valued at $88,116,000 after purchasing an additional 270,433 shares during the period. Institutional investors own 81.10% of the company's stock.

Lennar Trading Down 0.1%

Shares of LEN stock traded down $0.10 during trading hours on Monday, reaching $109.47. The company's stock had a trading volume of 1,311,385 shares, compared to its average volume of 2,717,995. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12. Lennar Corporation has a one year low of $98.42 and a one year high of $187.61. The stock has a market capitalization of $28.35 billion, a P/E ratio of 9.05, a P/E/G ratio of 4.65 and a beta of 1.33. The firm's fifty day simple moving average is $109.52 and its 200 day simple moving average is $116.19.

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

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is 16.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LEN shares. Evercore ISI reduced their price objective on Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research note on Wednesday, June 18th. Royal Bank Of Canada dropped their price target on Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a research report on Wednesday, June 18th. JMP Securities dropped their price target on Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a research report on Friday, June 20th. Wedbush reissued a "neutral" rating and set a $130.00 price objective on shares of Lennar in a report on Wednesday, June 18th. Finally, Keefe, Bruyette & Woods decreased their target price on Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a research note on Friday, June 20th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $128.85.

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.