Graham Capital Management L.P. Acquires 8,171 Shares of Lennar Corporation $LEN

Key Points

• Graham Capital Management L.P. increased its ownership of Lennar Corporation by 223.0% in Q1, acquiring an additional 8,171 shares, bringing its total holdings to 11,835 shares valued at approximately $1.36 million.
• Lennar reported quarterly earnings of $1.90 per share, which missed analysts' expectations of $1.94, while its revenue of $8.38 billion surpassed expectations of $8.21 billion.
• The company declared a quarterly dividend of $0.50 per share, resulting in an annualized dividend yield of 1.5%, with a low payout ratio of 16.54%.

Graham Capital Management L.P. raised its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 223.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,835 shares of the construction company's stock after purchasing an additional 8,171 shares during the quarter. Graham Capital Management L.P.'s holdings in Lennar were worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Secured Retirement Advisors LLC bought a new position in Lennar in the 1st quarter valued at $926,000. Marks Group Wealth Management Inc grew its stake in Lennar by 15.4% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,183 shares of the construction company's stock valued at $251,000 after purchasing an additional 292 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Lennar by 2.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 208,763 shares of the construction company's stock valued at $23,962,000 after purchasing an additional 4,332 shares during the period. Turtle Creek Wealth Advisors LLC grew its stake in Lennar by 24.8% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 42,041 shares of the construction company's stock valued at $4,825,000 after purchasing an additional 8,357 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc grew its stake in Lennar by 77.7% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company's stock valued at $419,000 after purchasing an additional 1,596 shares during the period. Institutional investors own 81.10% of the company's stock.

Lennar Stock Performance

Shares of NYSE LEN opened at $132.64 on Wednesday. The stock has a market cap of $34.36 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 5.65 and a beta of 1.33. 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 1-year low of $98.42 and a 1-year high of $193.80. The stock's 50-day moving average is $119.76 and its 200 day moving average is $114.64.

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

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.5%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is presently 16.54%.

Analysts Set New Price Targets

LEN has been the topic of a number of recent research reports. Keefe, Bruyette & Woods dropped their price target on Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a research report on Friday, June 20th. Wells Fargo & Company upped their price target on Lennar from $110.00 to $135.00 and gave the company an "equal weight" rating in a research report on Tuesday. Evercore ISI dropped their price target 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 price target on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $130.77.

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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