MBB Public Markets I LLC Acquires Shares of 2,594 Lennar Corporation $LEN

Key Points

• MBB Public Markets I LLC acquired 2,594 shares of Lennar Corporation, valued at approximately $298,000, during the first quarter.
• Lennar recently reported $1.90 earnings per share (EPS) for the quarter, missing expectations, with a quarterly revenue of $8.38 billion, down 4.4% from last year.
• The company declared a quarterly dividend of $0.50 per share, resulting in an annualized yield of 1.4%.

MBB Public Markets I LLC acquired a new position in shares of Lennar Corporation (NYSE:LEN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,594 shares of the construction company's stock, valued at approximately $298,000.

Several other institutional investors and hedge funds have also bought and sold shares of LEN. Ascent Group LLC raised its holdings in Lennar by 13.4% in the 1st quarter. Ascent Group LLC now owns 1,862 shares of the construction company's stock valued at $214,000 after buying an additional 220 shares during the last quarter. United Services Automobile Association bought a new position in Lennar in the 1st quarter valued at approximately $667,000. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Lennar by 3.4% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,708 shares of the construction company's stock valued at $426,000 after buying an additional 121 shares during the last quarter. Caxton Associates LLP bought a new position in Lennar during the 1st quarter worth approximately $2,542,000. Finally, Sciencast Management LP bought a new position in Lennar during the 1st quarter worth approximately $2,876,000. Institutional investors own 81.10% of the company's stock.

Lennar Stock Up 2.7%

Shares of NYSE LEN opened at $140.20 on Friday. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $193.80. 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 firm has a market capitalization of $36.31 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 5.80 and a beta of 1.33. The business has a 50-day moving average of $123.53 and a 200-day moving average of $115.51.

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

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Lennar's dividend payout ratio is presently 16.54%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Royal Bank Of Canada lowered their price target on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a report on Wednesday, June 18th. Wells Fargo & Company raised their price target on shares of Lennar from $110.00 to $135.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 2nd. UBS Group lowered their price objective on shares of Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. Wall Street Zen lowered shares of Lennar from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Finally, Evercore ISI lowered their price objective on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research note on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $130.77.

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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