Brandywine Global Investment Management LLC Raises Stock Holdings in Lennar Corporation (NYSE:LEN)

Key Points

• Brandywine Global Investment Management LLC increased its stake in Lennar Corporation by 32.6% in Q1, owning approximately 319,055 shares valued at about $36.6 million.
• Lennar Corporation reported Q2 earnings of $1.90 per share, missing estimates, with revenues of $8.38 billion, down 4.4% year-over-year.
• The company recently declared a quarterly dividend of $0.50 per share, representing an annualized dividend of $2.00 and a dividend yield of 1.5%.

Brandywine Global Investment Management LLC lifted its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 32.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319,055 shares of the construction company's stock after purchasing an additional 78,436 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.12% of Lennar worth $36,621,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of LEN. Ameriflex Group Inc. purchased a new stake in shares of Lennar during the fourth quarter worth approximately $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Lennar during the first quarter worth approximately $30,000. NBC Securities Inc. purchased a new stake in shares of Lennar during the first quarter worth approximately $33,000. Franchise Capital Ltd purchased a new stake in shares of Lennar during the first quarter worth approximately $38,000. Finally, Oakworth Capital Inc. raised its stake in shares of Lennar by 139.9% during the first quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Stock Down 0.2%

Lennar stock opened at $130.65 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. The firm has a market capitalization of $33.84 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 5.56 and a beta of 1.29. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $193.80. The stock's fifty day moving average is $113.51 and its two-hundred day moving average is $114.24.

Lennar (NYSE:LEN - Get Free Report) last posted its 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). The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the company posted $3.45 EPS. Analysts predict that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.5%. Lennar's dividend payout ratio (DPR) is presently 16.54%.

Analyst Ratings Changes

LEN has been the subject of several analyst reports. Keefe, Bruyette & Woods cut their price target on Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research note on Friday, June 20th. UBS Group dropped their price objective on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Royal Bank Of Canada dropped their price objective on Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a report on Wednesday, June 18th. Wedbush reaffirmed a "neutral" rating and set a $130.00 price objective on shares of Lennar in a report on Wednesday, June 18th. Finally, Wall Street Zen lowered Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $128.85.

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.

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