Jump Financial LLC Buys 18,437 Shares of Lennar Corporation $LEN

Key Points

• Jump Financial LLC significantly increased its stake in Lennar Corporation by 480.1%, acquiring 22,277 shares valued at approximately $2.56 million.
• Several institutional investors, including Castlekeep Investment Advisors and Man Group plc, have also increased their positions in Lennar, resulting in institutional ownership of 81.10% of the company's stock.
• Lennar's recent earnings report showed a miss on EPS expectations, with reported earnings of $1.90 compared to the consensus estimate of $1.94, and a revenue of $8.38 billion, exceeding estimates.

Jump Financial LLC increased its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 480.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,277 shares of the construction company's stock after purchasing an additional 18,437 shares during the period. Jump Financial LLC's holdings in Lennar were worth $2,557,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its stake in Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock valued at $236,000 after acquiring an additional 377 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Lennar by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 351,926 shares of the construction company's stock worth $47,993,000 after purchasing an additional 1,986 shares in the last quarter. Optiver Holding B.V. bought a new stake in Lennar in the fourth quarter valued at approximately $109,000. Lido Advisors LLC raised its stake in Lennar by 113.2% in the fourth quarter. Lido Advisors LLC now owns 13,105 shares of the construction company's stock valued at $1,787,000 after buying an additional 6,959 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its stake in Lennar by 22.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 165,440 shares of the construction company's stock valued at $22,561,000 after acquiring an additional 30,292 shares during the period. Institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LEN. Royal Bank Of Canada dropped their price objective on shares of 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 lowered their price target on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a report on Friday, June 20th. Bank of America lowered their price target on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Zelman & Associates lowered shares of Lennar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 18th. Finally, Wall Street Zen cut Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $128.85.

Lennar Stock Up 0.1%

NYSE LEN traded up $0.15 during trading hours on Friday, hitting $133.28. The company's stock had a trading volume of 1,846,892 shares, compared to its average volume of 3,194,609. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $193.80. The company has a market capitalization of $34.52 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 5.65 and a beta of 1.29. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12. The company's 50-day simple moving average is $118.89 and its two-hundred day simple moving average is $114.52.

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

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued 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 yield of 1.5%. Lennar's payout ratio is presently 16.54%.

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.