Infrastructure Capital Advisors LLC Purchases Shares of 32,881 Lennar Corporation $LEN

Key Points

• Infrastructure Capital Advisors acquired 32,881 Lennar shares in the first quarter, valued at approximately $2.86 million. Institutional investors and hedge funds collectively own 81.1% of the company.
• Lennar reported quarterly EPS of $1.31, exceeding estimates of $1.24, but revenue fell 5.2% year over year to $7.94 billion. The company paid a quarterly dividend of $0.50, representing a 2.4% annualized yield.
• Analyst sentiment remains negative: Lennar has one Buy, seven Hold and ten Sell ratings, resulting in a consensus “Reduce” rating and a $92.80 target price.

Infrastructure Capital Advisors LLC acquired a new position in shares of Lennar Corporation (NYSE:LEN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 32,881 shares of the construction company's stock, valued at approximately $2,855,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Phillip James Consulting Co. purchased a new position in shares of Lennar in the first quarter worth about $30,000. High Point Wealth Management LLC purchased a new position in Lennar during the 4th quarter worth approximately $31,000. DV Equities LLC purchased a new stake in shares of Lennar in the 4th quarter valued at $31,000. Global Assets Advisory LLC acquired a new position in Lennar during the first quarter valued at $39,000. Finally, Quarry LP acquired a new stake in Lennar during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Performance

NYSE:LEN opened at $84.99 on Tuesday. The company has a fifty day moving average of $88.03 and a two-hundred day moving average of $96.93. Lennar Corporation has a fifty-two week low of $79.82 and a fifty-two week high of $144.24. The stock has a market capitalization of $20.47 billion, a PE ratio of 13.30, a P/E/G ratio of 2.81 and a beta of 1.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The firm had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $8.08 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. The company's revenue for the quarter was down 5.2% on a year-over-year basis. As a group, research analysts forecast that Lennar Corporation will post 5.52 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. Lennar's dividend payout ratio is presently 31.30%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Keefe, Bruyette & Woods dropped their target price on Lennar from $86.00 to $85.00 and set an "underperform" rating on the stock in a report on Wednesday, June 17th. Bank of America cut their target price on shares of Lennar from $84.00 to $77.00 and set an "underperform" rating for the company in a report on Friday, June 12th. Zacks Research downgraded shares of Lennar from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 16th. Seaport Research Partners reiterated a "sell" rating and issued a $74.00 price objective (down from $140.00) on shares of Lennar in a research report on Tuesday, April 7th. Finally, Evercore raised their target price on Lennar from $82.00 to $87.00 and gave the company an "underperform" rating in a research report on Monday, June 15th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $92.80.

About Lennar

Lennar Corporation NYSE: LEN is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.

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