IFM Investors Pty Ltd Grows Stock Holdings in Lennar Corporation (NYSE:LEN)

IFM Investors Pty Ltd lifted its stake in Lennar Corporation (NYSE:LEN - Free Report) by 10.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,854 shares of the construction company's stock after purchasing an additional 4,807 shares during the period. IFM Investors Pty Ltd's holdings in Lennar were worth $5,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LEN. Hurley Capital LLC bought a new position in shares of Lennar in the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Lennar during the fourth quarter worth approximately $28,000. Ameriflex Group Inc. purchased a new position in shares of Lennar during the fourth quarter worth approximately $30,000. Opal Wealth Advisors LLC purchased a new position in shares of Lennar during the first quarter worth approximately $30,000. Finally, NBC Securities Inc. purchased a new position in Lennar during the first quarter valued at approximately $33,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Stock Performance

LEN traded up $5.34 during trading on Wednesday, reaching $115.76. The company's stock had a trading volume of 5,548,786 shares, compared to its average volume of 2,731,314. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $187.61. The company's fifty day moving average price is $109.11 and its 200-day moving average price is $117.71. The company has a market capitalization of $30.54 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 4.78 and a beta of 1.33. 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 (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). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business had revenue of $8.38 billion during the quarter, compared to analysts' expectations of $8.21 billion. During the same period in the prior year, the firm posted $3.45 EPS. Lennar's revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.73%. Lennar's payout ratio is 16.54%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LEN shares. Royal Bank Of Canada cut their price objective on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a report on Wednesday, June 18th. Wells Fargo & Company lowered their target price on shares of Lennar from $120.00 to $110.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Barclays lowered their target price on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. The Goldman Sachs Group lowered their price objective on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. Finally, Zelman & Associates downgraded shares of Lennar from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target 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.