Kera Capital Partners Inc. Purchases Shares of 2,643 Lennar Corporation $LEN

Key Points

• Kera Capital Partners Inc. has acquired 2,643 shares of Lennar Corporation, valued at approximately $292,000, marking its new stake in the construction company.
• Despite a missed EPS estimate of $1.94 with a reported $1.90, Lennar's revenue of $8.38 billion exceeded expectations of $8.21 billion.
• Lennar has declared a quarterly dividend of $0.50 per share, translating to an annualized dividend yield of 1.5%.

Kera Capital Partners Inc. purchased a new stake in shares of Lennar Corporation (NYSE:LEN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,643 shares of the construction company's stock, valued at approximately $292,000.

Several other hedge funds have also modified their holdings of LEN. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Lennar by 1.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,719 shares of the construction company's stock valued at $886,000 after purchasing an additional 89 shares during the last quarter. NorthRock Partners LLC raised its position in shares of Lennar by 1.4% in the 1st quarter. NorthRock Partners LLC now owns 6,509 shares of the construction company's stock valued at $747,000 after purchasing an additional 93 shares during the last quarter. Valeo Financial Advisors LLC raised its position in shares of Lennar by 1.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 8,841 shares of the construction company's stock valued at $1,015,000 after purchasing an additional 95 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Lennar by 2.3% in the 1st quarter. EP Wealth Advisors LLC now owns 4,782 shares of the construction company's stock valued at $549,000 after purchasing an additional 107 shares during the last quarter. Finally, Mather Group LLC. raised its position in shares of Lennar by 8.4% in the 1st quarter. Mather Group LLC. now owns 1,517 shares of the construction company's stock valued at $174,000 after purchasing an additional 117 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays decreased their price objective on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. Wedbush reaffirmed a "neutral" rating and issued a $130.00 price objective on shares of Lennar in a research report on Wednesday, June 18th. Keefe, Bruyette & Woods decreased their price objective on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research report on Friday, June 20th. Zelman & Associates downgraded shares of Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Finally, Zacks Research upgraded shares of Lennar from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $130.77.

Lennar Price Performance

Shares of NYSE:LEN opened at $137.19 on Friday. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $193.80. The company's 50 day moving average is $124.07 and its 200 day moving average is $115.56. 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 has a market cap of $35.53 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 5.95 and a beta of 1.33.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 EPS 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 analyst estimates of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%.Lennar's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.45 EPS. On average, sell-side analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders 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%.

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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