Lennar Corporation (NYSE:LEN) Shares Acquired by AXS Investments LLC

Key Points

• AXS Investments LLC increased its stake in Lennar Corporation by 39.8% during the first quarter, now owning over $1.2 million worth of shares.
• Several analysts have lowered their target prices for Lennar, with Royal Bank of Canada cutting theirs from $122.00 to $98.00 and a consensus average price target of $128.85.
• Lennar reported a quarterly earnings miss with earnings per share of $1.90, slightly below the expected $1.94, alongside a 4.4% decrease in revenue compared to the prior year.

AXS Investments LLC raised its position in Lennar Corporation (NYSE:LEN - Free Report) by 39.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,046 shares of the construction company's stock after buying an additional 3,142 shares during the quarter. AXS Investments LLC's holdings in Lennar were worth $1,268,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in Lennar by 3.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company's stock valued at $834,115,000 after acquiring an additional 213,003 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in Lennar during the 4th quarter worth about $218,533,000. Eminence Capital LP raised its stake in Lennar by 43.4% in the 4th quarter. Eminence Capital LP now owns 685,225 shares of the construction company's stock valued at $93,444,000 after purchasing an additional 207,343 shares during the last quarter. D1 Capital Partners L.P. lifted its holdings in Lennar by 67.3% in the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock valued at $88,116,000 after purchasing an additional 270,433 shares in the last quarter. Finally, Man Group plc lifted its holdings in Lennar by 112.5% in the 4th quarter. Man Group plc now owns 506,722 shares of the construction company's stock valued at $69,102,000 after purchasing an additional 268,209 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Up 1.2%

Shares of LEN stock traded up $1.40 on Friday, reaching $120.91. 2,093,620 shares of the stock were exchanged, compared to its average volume of 2,743,458. The stock has a market cap of $31.32 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 5.07 and a beta of 1.29. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average of $112.01 and a two-hundred day moving average of $114.47. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $193.80.

Lennar (NYSE:LEN - Get Free Report) last released 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%. The company's quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.45 earnings per share. On average, research analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.00 annualized dividend and a dividend yield of 1.7%. Lennar's payout ratio is presently 16.54%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LEN shares. Wall Street Zen lowered shares of Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Wedbush restated a "neutral" rating and issued a $130.00 target price on shares of Lennar in a report on Wednesday, June 18th. Royal Bank Of Canada decreased their price objective on Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a report on Wednesday, June 18th. UBS Group decreased their price objective on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Finally, Keefe, Bruyette & Woods decreased their price objective on Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a report on Friday, June 20th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.