Landscape Capital Management L.L.C. Buys Shares of 39,729 Lennar Corporation $LEN

Key Points

• Landscape Capital Management L.L.C. has invested approximately $4.56 million in Lennar Corporation by purchasing 39,729 shares during the first quarter.
• Analysts have lowered price targets for Lennar, with Keefe, Bruyette & Woods adjusting theirs from $128.00 to $114.00 and Barclays from $110.00 to $95.00, indicating a more cautious outlook.
• Lennar recently announced a quarterly dividend of $0.50 per share, reflecting a 1.5% dividend yield, with a payout ratio of 16.54%.

Landscape Capital Management L.L.C. bought a new position in Lennar Corporation (NYSE:LEN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 39,729 shares of the construction company's stock, valued at approximately $4,560,000.

Several other hedge funds also recently made changes to their positions in LEN. Ameriflex Group Inc. acquired a new position in Lennar during the 4th quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new position in shares of Lennar during the first quarter valued at $30,000. NBC Securities Inc. purchased a new position in Lennar in the first quarter valued at about $33,000. Itau Unibanco Holding S.A. boosted its stake in shares of Lennar by 611.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 299 shares of the construction company's stock worth $41,000 after acquiring an additional 257 shares in the last quarter. Finally, Franchise Capital Ltd acquired a new position in shares of Lennar during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Trading Up 0.1%

Shares of NYSE:LEN traded up $0.15 on Monday, reaching $133.28. 1,846,892 shares of the company traded hands, compared to its average volume of 3,105,015. The business's 50-day simple moving average is $118.89 and its 200 day simple moving average is $114.45. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $193.80. The stock has a market capitalization of $34.52 billion, a P/E ratio of 11.02, a price-to-earnings-growth 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 (NYSE:LEN - Get Free Report) last announced its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business posted $3.45 earnings per share. As a group, equities analysts anticipate that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio is currently 16.54%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JMP Securities dropped their target price on Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a report on Friday, June 20th. 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 note on Wednesday, June 18th. Bank of America lowered their price target on Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Keefe, Bruyette & Woods dropped their price target on Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research note on Friday, June 20th. Finally, Barclays lowered their price objective on Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. One research 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 MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $128.85.

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.